Since the retreat from 1.1000 at the end of last month, the pair was caught in and around the 100-day (red line) and 200-day (blue line) moving averages. But after the dollar slumped following the FOMC meeting yesterday, buyers took the call to action to break above the latter and that is seeing the bias in the pair shift to being more bullish.The dollar softness today is extending, with the pair trading up 0.3% to 1.0910 currently. However, the euro side of the equation will also come into play later on with the ECB coming up next.As things stand, traders are pricing in a whopping 154 bps worth of rate cuts by the ECB for next year. The odds of a March rate cut have moved up to ~77% with ne
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