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May 29 - 08:55 PM

EUR/USD - Fall Leaves The Euro Vulnerable, Large 1.0800 Strikes

By Andrew M Spencer  —  May 29 - 08:00 PM
  • Steady after closing -0.5% with the USD +0.5%, despite tighter yield spreads

  • 10yr bund climbed 10bp to 2.682% - 10yr Treasury yields rose 8bp to 4.624%

  • Higher German inflation saw bund yields climb, but the ECB will cut in June

  • Charts - momentum studies edge lower, as 21-day Bollinger bands contract

  • Mixed 5, 10, & 21-day moving averages - signals show a neutral setup

  • The close below the 1.0812 21-day moving average was a bearish signal

  • 1.0721/24 lower 21 day Bolli band and May 3rd & 9th are initial support

  • 1.0800 2.811 BLN May 30th strikes will likely be a magnet in Asia

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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