EURUSD Technical Analysis – Consolidation ahead of the US CPI ...Middle East

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EURUSD Technical Analysis – Consolidation ahead of the US CPI
Fundamental OverviewThe USD rallied across the board last Friday following the hot US NFP report. The market priced out all the aggressive rate cuts expectations and it’s now finally in line with the Fed’s projections. The focus remains on the economic data. The next key event to watch will be the US CPI report tomorrow. We will likely need a hot report to see some more downside, while a big miss could see the market price back in a more aggressive path for rate cuts. On the EUR side, the market has fully priced in a back-to-back 25 bps cut in October from the ECB following the weak data and dovish comments from ECB officials. EURUSD Technical Analysis – Daily TimeframeOn the daily chart, we

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