EUR/USD. August 9. Inflation in Europe casts doubt on a rate cut in September

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Technical analysis



Back
Technical analysis


EUR/USD. August 9. Inflation in Europe casts doubt on a rate cut in September


On Thursday, the EUR/USD pair resumed




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09.08.2024 01:55 PM






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On Thursday, the EUR/USD pair resumed its decline towards the 38.2% corrective level at 1.0879, but it fell just a few points short. The pair then reversed near this level and returned to the 1.0917–1.0929 zone. A rebound from this zone today would indicate a new drop in the euro towards the 1.0879 level, while consolidation above it would suggest growth towards the 0.0% corrective level at 1.1008. However, this zone is not particularly strong on its own, and false




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