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Nov 14 - 08:55 PM

EUR/USD - Downtrend Extends, As Divergent Rate Outlooks Weigh

By Andrew M Spencer  —  Nov 14 - 06:40 PM
  • Steady after closing down 0.35% with the U.S. dollar up 0.4%

  • Fed Chair Powell cautious on rate cuts - ECB is more confident

  • Diverging interest rates, and Trump tariffs should cap EUR/USD

  • Charts - daily momentum studies slide as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages fall, signals show a bearish trending setup

  • Thursday's 1.0583 high and then Tuesday's 1.0663 top are initial resistance

  • Next major support is the 1.0448 2023 base, then 1.0402, 0.500% 2022/23 rise

  • 1.0500 3.210 BLN and 1.0550 990mln are the close strikes for Nov 15th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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