EURUSD moves back higher and retraces CPI declines

The EURUSD squeeze back higher The EURUSD has retraced all the CPI declines. Before the data, the EURUSD was trading at 114.34. The price moved down to 113.74. That level tested the 50% midpoint of the move up from last Thursday's low (ECB day – see pre-CPI post here outlining the targets