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Jan 21 - 08:55 PM

EUR/USD - Softer, Bias Remains Lower, Despite Friday's Bounce

By Andrew M Spencer  —  Jan 21 - 07:00 PM
  • -0.05% early after closing up 0.2%, but fell 0.45% on the week - USD led

  • Hopes of early Fed and ECB rate cuts receded last week amid strong US data

  • The ECB rate decision on Jan 25 - no change - outlook will be key for EUR

  • Yield differentials were little changed on Friday - rates climbed last week

  • Charts; mixed daily momentum studies, 5, 10 & 21 day moving averages slide

  • 21-day Bollinger bands fall - a negative setup despite the bounce

  • The next significant support is 1.0793 50% of the October/December rise

  • 1.0866 NY low and 1.0020 10-day moving average first support resistance

  • No significant close strikes for Jan 22nd

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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