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EUR/USD slides after US inflation fails to fall back

The rise above 150 in the USD/JPY has been delivered with an equivalent US dollar gain versus the pound and the Euro. The EUR/USD was trading at around 1.0795 ahead of this CPI release, It has since dropped back to around 1.0725. It remains to be seen if the Euro can hold the current 2024 low, which is in place at 1.0723. The low seen just now was set at 1.0724 and the reader is reminded of a double bottom in place at 1.0723. If that gives way then a test of .0700 could follow thereafter.

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