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Familiar EURHUF Technical Levels In Play Ahead of US Inflation Data

HUF
  • EURHUF sits 0.20% in the red ahead of the US inflation data. Consensus puts core CPI inflation at 0.2% M/M in August in what’s likely only a minor uptick from unrounded 0.16% M/M readings in both June and July.
  • Resistance to watch lies at 391.64, the Aug 21 high, a clear break of which would open 394.67, the Aug 3 high and a key resistance. On the downside, a clear break of the 50-day EMA (382.54) would be bearish and instead expose 378.24.

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