The EUR/USD pair is trading around the 1.19 mark after the eurozone Q2 Prelim GDP beat estimates with 2% while US PCE inflation rose by less than anticipated in June, printing at 3.5% YoY. Risk-on mood persists.
EUR/USD bounced off sharply from monthly lows in the mid-1.1700s and extends the upside to the boundaries of the round level at 1.1900. The continuation of the recovery could see the 1.1980 region retested in the not-so-distant future. Further north comes in the psychological 1.2000 mark, where also sits the critical resistance. A surpass of the latter should alleviate the selling pressure.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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