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EUR/USD Should Bounce Despite US CPI
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The EUR/USD has started a retracement after better than forecast US CPI.
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The EUR/USD started to drop after the better than expected US CPI. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. At this point the price is dropping. 1.1290-1.1315 is the possible bounce point. Look for the bounce there for a possible 1.1485 retest.
Cheers and safe trading,
Nenad
About the Author
Nenad Kerkezcontributor
M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.
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