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Aug 10 - 08:55 PM

EUR/USD - More Downside Likely As Trend Higher Falters

By John Noonan  —  Aug 10 - 06:35 PM
  • EUR/USD opens 0.42% lower as long liquidation continues

  • The 5-day MA is now pointing lower for first time since June 30

  • Close below 10-day MA for second straight day is a negative signal

  • The 10-day MA at 1.1794 is now resistance after being good support

  • Correction lower likely to extend to 21-day MA at 1.1660 in coming days

  • Closer support is found at the August 3 low at 1.1695

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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