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Aug 29 - 10:55 PM

EUR/USD - ECB's Response To Surging Yields Key For Next Move

By Andrew M Spencer  —  Aug 29 - 08:50 PM

  • +0.05% in Asia after closing up 0.3% supported by surging EUR crosses

  • EUR/GBP closed +0.6% and EUR/JPY +1.2% on hawkish ECB hopes nL1N3030AH

  • Bund yields soared, 2yr +12bp to 1.094$, 10yr +11bp 1.505% nL8N305102

  • ECB response to the market pricing likely key for the next Euro move

  • 10 & 21 day, week and month ma's fall, daily momentum studies conflict

  • 21 day Bollinger bands track lower - bearish short and longer term charts

  • NY 0.9981 low is initial support, then last week's 0.9900 2022 low

  • Close above 1.0119 21 day moving average would be positive

  • No close significant strikes until 0.9900 2.834 BLN

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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