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Apr 03 - 07:55 PM

EUR/USD - Key Resistance Breaks, As Shorts Cover Into US Jobs

By Andrew M Spencer  —  Apr 03 - 07:20 PM
  • Steady after closing up 0.6% with the U.S. dollar down 0.5%

  • Profit-taking ahead of the often volatile U.S. jobs behind USD selling

  • Euro zone inflation unexpectedly eased, boosting ECB rate cut hopes

  • Yield spreads unchanged, 10yr bund -1bp 2.400%, 10yr UST -1bp 4.351%

  • Charts - daily momentum studies base/rise, 21-day Bollinger bands fall

  • 5, 10, and 21-day moving averages conflict - a neutral setup

  • The close above 1.0824, 38.2% March/April fall is positive

  • 1.0800 718 mln and 1.0850/60 1.298 BLN are the April 4 close strikes

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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