💶 $EURUSD climbed to its highest level in two weeks above 1.1060 on Thursday but failed to preserve its bullish momentum. Read more about the Euro here! 👇
to rise 0.7% in July following June's 0.1% increase. A downside surprise, with a reading close to June's print, could weigh on the USD. The market reaction to Thursday's CPI data, however, remained short-lived, suggesting that PPI figures are unlikely to have a lasting impact on EUR/USD action ahead of the weekend.After rising above 1.1020 , 200-period SMA), EUR/USD failed to make a 4-hour close above that level, highlighting the importance of this resistance. Once 1.
On the downside, 1.0980 aligns as first support before 1.0950 . A 4-hour close below the latter could bring in additional sellers and open the door for an extended decline to 1.0920, the end-point of the latest downtrend.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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