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Jul 04 - 10:55 PM

EUR/USD - Large Strikes Support, But Downtrend Remains Valid

By Andrew M Spencer  —  Jul 04 - 08:43 PM

  • Touch softer after closing up 0.15%, resilient against a broadly softer USD

  • ECB outlook mixed - Knot hawkish nL2N2OG0B4, Schnabel dovish nL2N2OF08O

  • Draft - EU to propose aviation fuel tax in green policy push nL3N2OG07J

  • Fuel tax will be very difficult - but necessary to meet climate targets

  • Charts; 5, 10 & 21 daily moving averages, 21 day Bollinger bands fall

  • Bearish trending setup - Friday's 1.1807 low initial significant support

  • Close above 1.1898 10 DMA, which capped fall, would undermine downside bias

  • 2.021 BLN 1.1840/50 and 1.149 BLN 1.1900 strikes contain in Asia

    For more click on FXBUZ


eur jul 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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