EUR/USD tests 1.12
EUR/USD is capitalizing on the weaker USD and with German CPI data in focus.
Buyers have been grinding higher from later May, with the latest leg up seeing EUR/USD retest 1.12.
Buyers will look to rise above here to extend the uptrend to 1.1275 the 2023 high.
On the downside, support can be seen at 1.11, the round number and the rising trendline support. It would take a move below 1.10 to create a lower low.
Buyers have been grinding higher from later May, with the latest leg up seeing EUR/USD retest 1.12.
Buyers will look to rise above here to extend the uptrend to 1.1275 the 2023 high.
On the downside, support can be seen at 1.11, the round number and the rising trendline support. It would take a move below 1.10 to create a lower low.
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