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Jul 22 - 09:55 PM

EUR/USD - Key Resistance Capped, But Charts Point North

By Andrew M Spencer  —  Jul 22 - 08:15 PM
  • Flat after closing up 0.4%, retreating off 1.1596, 50% 2018-2020 fall

  • Spain will fulfill labour reform plan after EU deal nL5N2ET61N

  • EU to ease market rules to help COVID hit companies nL5N2ET5H0

  • Daily momentum studies, 5, 10 and 21 daily and weekly MAs all climb

  • Bullish trending setup would be undermined by a close below 1.1437 10 DMA

  • Close above 1.1596, 50% 2018-2020 fall would open the door to 1.1822 61.8%

  • 1.1564 upper 21 day Bolli band suggests market is short term overbought

  • 1.1545-50 936M strikes and NY 1.1601 high are initial support-resistance

    For more click on FXBUZ

eur jul 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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