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Feb 28 - 08:55 PM

EUR/USD - Resilient As Tighter Yield Spreads Support

By Andrew M Spencer  —  Feb 28 - 07:30 PM
  • Steady after closing down just 0.05% with the USD up 0.1%

  • Yield spreads tightened, 10yr bund +1bp 2.461%, 10yr UST -5bp 4.261%

  • ECB Nagel believes upcoming wage data will be key for ECB policy

  • Charts - 5, 10 & 21 DMAs gently base or rise with momentum studies

  • Horizontal 21-day Bollinger bands - signals show a modest topside bias

  • A close above 1.0915, 50% of the December-February fall would be bullish

  • Europe's 1.0796 low and NY 1.0845 high are initial support, resistance

  • The current fundamentals still suggest U.S. dollar strength

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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