The EURUSD edged higher after the CPI data but respected the 200 hour MA for the 2nd time today. In the kickstart video, I explained how the price had to go above the group of MAs to increase the bullish bias. That was not done. Sellers continued to decline. The price moved back down.
The selling has brought the price back to the low for the day but the next key target comes between 1.0448 and 1.0461. With the top above a rotation back down to these levels is expected. Below that is the midpoint of the 50% range from 2022 at 1.04053 (see daily chart below).
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