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Thomson Reuters
Jul 12 - 05:00 AM
EUR/USD - Capped By 55-DMA Will Fall Harder If 21-DMA Breaks
First appeared on eFXplus on Jul 12 - 03:00 AM
  • EUR/USD failed to close above 55-DMA, now 1.1750, then down to 1.1660 Jul 11
  • Today trades a 1.1670-86 range. Consolidation close low is a bearish sign
  • 21-DMA @ 1.1649 is the trigger point for acceleration lower
  • U.S. yields back up, so rates swing back in favour of a further decline
  • U.S. CPI 12.30GMT. Inflation seen rising to 2.9% yy, highest since Feb 2012
  • CPI a likely trigger for renewed EUR/USD drop. 21-DMA to cue a 1.1500 retest

EUR/USD daily chart Click here

UST/Bund spread Click here

US CPI Click here

Source:
Thomson Reuters IFR Markets

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