The Euro bounces above 1.1900 handle on Thursday, consolidating after strong fall on Wednesday.

Bearish acceleration was contained by daily Kijun-sen (1.1877) which now acts as initial support.

Bulls on daily chart studies are losing traction and showing increasing risk for further extension of pullback. Sustained break below Kijun-sen pivot would open support at 1.1826 (Fibo 61.8% of 1.1662/1.2092 rally) with stronger bearish acceleration seen on violation.

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Initial resistance at 1.1920 remains intact for now, with stronger recovery attempts to open 10SMA at 1.1934 and pivotal daily Tenkan-sen at 1.1979.

US inflation data are expected to be the key driver today.

Res: 1.1920, 1.1934, 1.1979, 1.2000
Sup: 1.1877, 1.1826, 1.1800, 1.1763


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