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Jan 04 - 07:55 PM

EUR/USD - Opens Higher But 1.2310 Continues To Cap

By John Noonan  —  Jan 04 - 05:52 PM
  • The EUR/USD topped out at 1.2305/10 for third straight trading day

  • Pair closed 0.27% higher after chopping in nearly same range as Thursday

  • Key support at 21-day MA at 1.2193 and break would suggest top in place

  • Resistance at triple-top at 1.2305/10 where sellers are tipped

  • Long EUR/USD is the main FX conviction trade for start of 2021

  • Chances of correction lower increases if volatility spikes

  • Runoff for the two Georgia Senate seats later today In US a potential risk nL1N2JF2AC

  • Market not pricing in Democrat sweep that would give them control of Senate

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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