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

EURO-DOLLAR
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 10 or so pips higher at
$1.1648 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 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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