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EUR/USD Rate Rebounds Ahead of Yearly Low to Approach 50-Day SMA
EUR/USD carves a series of higher highs and lows following the kneejerk reaction to the US Consumer Price Index (CPI), and the exchange rate appears to be on track to test the 50-Day SMA (0.9924) as it reverses course ahead of the yearly low (0.9536). EUR/USD consolidates within the September range after failing to push above the moving average earlier this month, and the exchange rate may continue to track the negative slope in the indicator to mirror the price action from earlier this year. As a result, the advance from the monthly low (0.9632) may end up being short-lived as the Federal Reserve pursues a ... (full story)
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- Posted: Oct 18, 2022 9:46pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 1,587
