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EUR/USD getting ready to bounce
A bout of dollar weakness has provided the necessary tonic to suggest a longer-term bounce is at hand.
EUR/USD has firmly held the rising trendline we highlighted earlier in the week, and while some profit-taking is evident this morning following a weaker German CPI reading, as long as the price holds above $1.06 we should see further gains. The price still has to clear $1.0702, and if it does then we could see a push back above $1.08.