EURUSD Daily Outlook – On Wednesday we found out the U.S. Homebuyer mortgage demand spikes to an 11-year high, as rates hit another record low, Canadian Consumer Price Index (CPI) fell 0.4% on a year-over-year basis in May, UK inflation hit a four-year low, and Germany urged the EU to plan for possible ‘no-deal 2.0’
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On Thursday we’ll be eying interest rate decisions from Switzerland and the UK, as well as the inflation rate from Japan.
Today I’m looking at the EUR/USD pair which headed back down after hitting the key resistance level of 1.14 last week, unable to break above it for the 5th time since February 2019.
If history is bound to repeat itself, we could see a bit more medium-term consolidation for the pair with the key support levels laying at 1.11 and 1.07.
Will you be taking a bearish stand on the pair anytime soon? Head over to the comments section and let me know.
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