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EUR/USD had very little reaction to a...>

EURO-DOLLAR: EUR/USD had very little reaction to a modest miss in the Final June
EZ core CPI release on Wednesday. 
- The cross trades 15 or so pips higher at $1.1652 last. Follow through above
the 55-DMA ($1.1715) remains lacking and sees immediate pressure back on the
$1.1589 support. Bears need a close below this level to confirm a break of the
bull channel base and focus on retests of 2018 lows. Bulls need a close above
hourly resistance from July 09 ($1.1765) to confirm traction above the
aforementioned 55-DMA.
- The EZ docket looks thin during the remainder of this week, with focus on next
week's ECB MonPol decision & the flash July PMI readings from across the region.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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