EURUSD bounces above key support, setting up bullish momentum ...Middle East

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EURUSD bounces above key support, setting up bullish momentum
The EURUSD moved lower after the ECB kept rates on hold, but cut inflation expectations. ECBs Lagarde expressed concerns about lower growth. However, she also said that she/they needed more assurance (and confidence) that inflation was indeed coming down.Technically, the initial fall lower in the EURUSD did find support buyers ahead of the broken 38.2% retracement of the move down from the December high. That level comes in at 1.0864 (see red solid line on the chart above). The low price reached reached 1.0867 just above that level before stalling the fall.Subsequently, the price snapped back higher. Getting back above the 1.0887 level (high price from two weeks ago) added to the upside mom

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