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Apr 05 - 01:55 PM

EUR/USD - Rally Sellers Are Being Aggressive, Key Support Test Due

By Christopher Romano  —  Apr 05 - 01:25 PM
  • EUR/USD gained a bit overnight, 1.09885 traded on EBS, rally sellers emerged

  • Slow drift lower eventually turns into a sharp decline on Fed comments

  • Fed's Brainard note rate hikes, balance sheet reduction nL2N2W31B2

  • US yields Us2YT=RR rally to new highs, higher Fed terminal rate priced in

  • Broad based US$ buying drives EUR/USD below 1.0945/50, 1.09125 trades on EBS

  • 1.0890/00 threatened; 76.4% Fib 1.0806-1.1185, March 9 & 14 lows sit there

  • Break of that support suggests test of the 1.0800 support area is due

  • For more click on FXBUZ



eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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