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Aug 25 - 08:55 PM

EUR/USD - Opens At Familiar Level After Lively Session

By John Noonan  —  Aug 25 - 07:05 PM
  • EUR/USD opens between 0.9965/75 for third straight day

  • Broadly weaker USD underpinned while EZ growth concerns capped nL8N3012B4

  • EUR/USD traded as high as 1.0033 when stops above 1.0000 were triggered

  • Resistance is at the 10-day MA at 1.0046 and 21-day MA at 1.0143

  • EUR/USD trending lower with the 5, 10 & 21-Day MAs in a bearish alignment

  • A break above the 10-day MA would suggest the trend is weakening

  • Support has formed at 1.0900/10 where option related buying is eyed

  • EUR/USD likely to consolidate ahead of Powell speech at Jackson Hole

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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