EUR/USD's Ascent to 1.3800 Marked by Higher EZ CPI
- EURUSD Hammers 1.3680 to jump through 1.3770.
- GBPUSD benefiting on the coattails but not much more.
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The EURUSD is a perfect example of why we wait on closing prices for confirmation rather than just pure discrete price action. Although the pair broke 1.3680 to the downside earlier this week, failure to close below on Wednesday and a Hammer reversal pattern on Thursday has helped carry EURUSD to fresh yearly highs.
--- Written by Christopher Vecchio, Currency Analyst
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.