The widely watched US CPI inflation for July has just been released. The data came in slightly above expectations as the headline inflation rose to 5.4 % YoY in July vs expected 5.3% YoY, unchanged from last month print. The Core CPI figure came in line with the consensus estimate of 4.3% YoY and compared with 4.5% YoY in June.
EURUSD broke above the upper limit of the descending channel and 1.1720 resistance after today's data releases and is heading towards next resistance level at 1.1752. Source:xStation5
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