EUR/USD penned in as traders await US CPI

EUR/USD trades penned in

Sentiment is: Neutral

Technical Analysis

EUR/USD is heading towards the resistance line of a Rising Wedge and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

A potential bullish movement on EUR/USD

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