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.
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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