The market is was near 1.45 at the beginning of Wednesday's US session.

Strength continues after a throwback was supported near 1.4350.

It is broke above Tuesday's high, and reaching to 1.45.

The RSI remained above 40, and shows maintenance of the Bullish momentum. With a push back above 70, it confirming the Bullish continuation in the short-term.

PPI data is the only US-related event risk. After a -0.4% reading in June, a 0.0% flat reading to 0.2% was the forecast for July. The headline reading came out 0.2%. The core PPI number was 0.4%in July, after a 0.3% reading in June, and a 0.2% forecast.

The 1.45 level is acting as Resistance. A break above this mark opens up the Bullish pivots at 1.4555, 1.4695, 14940.

This correction decline should find support above 1.44-1.4420 IMO.e1

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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