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Aug 25 - 11:55 PM

EUR/USD - 0.9900 Is Resilient Support - Large Parity Strikes

By Andrew M Spencer  —  Aug 25 - 08:30 PM

  • Steady after closing little changed, despite broad USD weakness

  • Rate hikes front and centre at the next ECB meeting on Sep 8 nW1N2ZL03H

  • Bids around 0.9900 are providing a base - response to Fed's Powell key

  • 5, 10 & 21 day and week moving averages fall, mixed daily momentum studies

  • 21 day Bollinger bands expand - daily and weekly charts are bearish

  • NY 0.9949 low is initial support, then Tuesday's 0.9900 trend low

  • Close above 1.0045 10 day moving average would suggest further consolidation

  • 1.0000 1.685 BLN are Friday's significant strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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