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HSBC analysts suggest that the EUR/USD pair is facing resistance at 1.15 level after it rebounded from a 21-month low, just below 1.12 following soft US inflation data that raised the prospects of a prolonged Fed pause.

Key Quotes

“Technical charts suggest a break of 1.1420 could lead to a test of the next key resistance of 1.15. Strong support is at around 1.12.”