Following a quiet European session on Wednesday, the improving risk mood in the American trading hours made it difficult for the US Dollar (USD) to find demand and allowed EUR/USD to end the day in positive territory.
EUR/USD continues to edge higher after posting small gains on Wednesday. The US economic docket will feature Consumer Price Index data for June. Buyers could remain interested if the pair confirms 1.0840-1.0850 as support. Following a quiet European session on Wednesday, the improving risk mood in the American trading hours made it difficult for the US Dollar to find demand and allowed EUR/USD to end the day in positive territory.
In case CPI figures come in line with analysts' estimate, this data could drive the USD's valuation. If the number of first-time applications for unemployment benefits rise close to 250,000, the USD could come under renewed selling pressure, while a reading at or below 220,000 could have the opposite effect. EUR/USD Technical Analysis The Relative Strength Index indicator on the 4-hour chart rose slightly above 70.
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