By Christopher Romano — Jan 12 - 11:45 AM
Wild price swings after US CPI, 1.0730 low hit when buyers emerged
Pair struck a 9-month high of 1.0845 on EBS, held most of session gains
Break above psychological 1.0800 level likely gives longs added confidence
Techs are bullish; RSIs rising & aren't diverging, pair above 10- & 21-DMAs
January's monthly bull hammer candle reinforces bullish tech signals
Longs now are targeting the 50% Fib 1.2349-0.9528, April 2022 monthly high
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Source:
Refinitiv IFR Research/Market Commentary