By Andrew M Spencer — Dec 22 - 10:10 PM
+0.1%, at the top of a 1.2020-1.2052 range with light D3 interest- USD -0.1%
UK car output +5.7% in November, but lags pre-pandemic levels nP8N2ZO035
Car production is 44.1% below the pre-pandemic 5-year average for the month
Charts; neutral daily momentum studies, 5, 10 & 21 day moving averages crest
21 day Bollinger bands flat line - negative setup after 6 days of lower lows
Wednesday's close below 1.2174 21 DMA bearish for 1.1634 38.2% Sep/Dec rise
Well tested 1.2441, 61.8% of 2022 fall capped uptrend - pivotal resistance
Asian 1.2020 low and 1.2146 London high are initial support and resistance
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Source:
Refinitiv IFR Research/Market Commentary