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Jun 23 - 08:55 AM

EUR/USD - Up On Strong EZ PMIs, Less Fed Fear, But 1.2000 May Cap

By Randolph Donney  —  Jun 23 - 08:11 AM

  • EUR/USD is well off 1.1911 EBS low after EZ PMI beat nL2N2O50ED

  • But still just below Tuesday's 1.1952 post-Fed rebound high

  • More offers seen into 1.2000, by Fibos, 200-DMA and Thur's high

  • Bund-Treasury yield spreads are down from Tuesday's rebound highs

  • EZ core-periphery yields spreads tighter, a plus for the euro

  • Daily RSIs no longer oversold and new Fed view better digested

  • US Markit PMI up next, likely still above EZ's 15-year high

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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