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May 06 - 05:55 AM

EUR/USD - Germany's Amazing Data Boosts EUR/USD But Likely Near Top

By Jeremy Boulton  —  May 06 - 04:07 AM
  • EUR/USD rises 1.2005-1.2028 EBS in wake of some amazing German data

  • German march manufacturing orders rose 3% in March vs 1.7% f/c

  • Orders surge 29.54% yy vs 6.4% in Feb nL8N2MT23H

  • Highest recorded for data back to 2013 is 10.99% yy

  • Resistance likely between mid 20-day Bollingers 1.2023 and 100-DMA 1.2050

  • Falling vol and spec longs will drag on the rally nL1N2MT0D7

  • China's FX policy will help determine EUR direction this year nL1N2MT0EX




EURUSD Click here

German manufacturing orders Click here

Source:
Refinitiv IFR Research/Market Commentary

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