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Chart of the day - EURUSD (29.06.2022)

Release of US GDP data, flash CPI inflation from Germany and panel discussion with heads of Fed, ECB and BoE are all scheduled for today. While US data will be a revision and is not expected to trigger any big moves, inflation data from Europe and speeches from top central bankers may provide some volatility for EURUSD. Let's take a look at the technical situation on the main currency pair.

Taking a look at EURUSD chart, we can see that the pair has been trading in a downward move for some time. Even as buyers managed to paint a double bottom on the chart, the pair struggles with breaking back above 1.0630. The most recent attempt of breaking above has triggered a pullback and a bearish engulfing pattern surfaced on D1 interval. A move back towards recent lows in the 1.0370 area cannot be ruled out. However, a 1.05 area may provide some short-term support.

Source: xStation5

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