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EUR/USD outlook: Bulls looking to seize control, German/US CPI eyed for fresh impetusANALYSIS |
2/10/2021 5:33:49 AM GMT
A broad-based USD selling bias pushed EUR/USD to near two-week tops on Wednesday.
The underlying bullish sentiment was seen as a key factor weighing on the safe-haven USD.
Investors look forward to the release of German/US CPI prints for a fresh trading impetus.
The EUR/USD pair gained strong positive traction on Tuesday and recovered further from two-month lows, around mid-1.1900s touched last week. The momentum pushed the pair further beyond the 1.2100 mark, to near two-week tops during the Asian session on Wednesday and was exclusively sponsored by the emergence of some heavy selling around the US dollar. Friday s rather unimpressive US jobs report raised doubts about a relatively faster US economic recovery and halted the recent USD bounce from multi-year lows.