EUR/USD: Pair Could Rally
Tickmill | Jan 12, 2022 03:33AM ET
EUR/USD opened at 1.1369 after getting a boost from Powell's testimony. Heading into the afternoon, it is unchanged at around 1.1370.
A move higher is likely higher after it closed above the 55-day MA at 1.1362. It was the first close above that reading since mid-September.
Resistance is at the triple top at 1.1385/90, and a break would increase upward pressure. Support is at a rising trendline at 1.1267, with bids tipped at 1.1310/20.
Key will be a reaction to US CPI to be released later today.
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