EURUSD erases all the CPI declines

Technical Analysis

Author: Greg Michalowski | eurusd

Races back above the 200 hour MA.

The EURUSD has now erased all of the declines on the back of the higher CPI data.

The move higher just broke above the 100 hour MA at 1.23355 and is seeing covering that has now taken the price above the 50% of the move down from Feb 1 high and the 100 bar MA on the 4-hour at 1.2363 and 1.2368 respectively.

The high for the day reached 1.2392. The 61.8% of the move down comes in at 1.2401.

US yields remain are nearer the highs at 2.8748% for the 10 year (2.887% was the high yield). The US stocks are up now with the S&P up 3.5 points or 0.12%. The Nasdaq is up 30 points or 0.42%. 


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