- EUR/USD remains largely sidelined despite the current bullish attempt to the 1.1390 region on the back of a mild rebound in flash CPI figures in the euro area.
- If spot manages to resume the upside, it should meet the immediate hurdle at the vicinity of 1.1420, or weekly highs, ahead of the more relevant 1.1450, or March tops.
- This important hurdle is considered the last defence for a visit of 2019 highs in the 1.1550/70 band.
- Of note, however, is the bearish ‘outside day’ charted yesterday, which could be a prologue for a move lower in the next days, particularly if spot fails to re-test/surpass recent tops above 1.1400.
EUR/USD daily chart
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