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EUR/USD's Ascent to 1.3800 Marked by Higher EZ CPI

EUR/USD's Ascent to 1.3800 Marked by Higher EZ CPI

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- EURUSD Hammers 1.3680 to jump through 1.3770.

- GBPUSD benefiting on the coattails but not much more.

- CAD and USD see GDP figures released later.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

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

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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