Core inflation also slowed down more than expected. This combination weighed on the US Dollar (USD) and provided strong momentum to support the EURUSD pair, pushing it to its highest level in over a month and currently recording at 1.087 today.
Regarding chart analysis: This currency pair has just broken out of the previous uptrend channel. The next strong resistance level appears at 1.0900, and higher than that is at 1.0930. A correction to the 1.080 level may occur without posing a threat to the current upward trend cycle.
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