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EURUSD Maintains Buoyant Price Action Amid Bolstered Sentiment

EUR
  • As the USD index briefly pierces below 101 following the softer US inflation reads, EURUSD continues the steady climb towards the year’s highs located at 1.1095. Bolstered risk sentiment is underpinning the move higher which has also seen the likes of Antipodean FX and emerging market currencies surge.
  • For EURUSD, this week’s break of resistance at 1.1012, the Jun 22 high, confirmed a resumption of the uptrend that started May 31. Moving average studies remain in bull-mode position reinforcing current trend conditions. A break of 1.1095 would confirm a resumption of the medium-term uptrend and provide scope for a move towards 1.1185, the March 31 2022 high.

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