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Well, the answer is 'only CPI can tell'.
Tomorrow we will have the inflation data of Europe's major economy Germany and the United States. Given the recent spate of weak inflation number it will be closely watched for any indication to contrary.
As far as technical are concerned the EUR/USD is taking support near the levels of 1.170 which is also trendline support. If the CPI numbers come favorable I think it will resume the rally.
Tomorrow we will have the inflation data of Europe's major economy Germany and the United States. Given the recent spate of weak inflation number it will be closely watched for any indication to contrary.
As far as technical are concerned the EUR/USD is taking support near the levels of 1.170 which is also trendline support. If the CPI numbers come favorable I think it will resume the rally.
