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Sep 24 - 05:00 PM
EUR/USD: Increasingly Likely To Test 1.0925; EUR/JPY: Charts Point To Lower Prices - TD
First appeared on eFXplus on Sep 24 - 02:30 PM

TD Research highlights a tactical bearish bias on EUR/USD and EUR/JPY in the near-term.

"The main EZ economies reported a dismal set of “flash” PMI reports today. The woes of the German manufacturing sector deepened while evidence of a broader slowdown is growing. This keeps the EUR under pressure and we think EURUSD looks increasingly likely to test key support around 1.0925 ," TD notes. 

"EURJPY continues to make a lot of sense and charts suggest lower prices are likely. Micro positives from tariļ¬€ free soy bean purchases should be outweighed by the noon of a “full” trade deal which covers IP etc and will be much harder to achieve and should keep JPY on the front foot," TD adds. 

TD Bank Research/Market Commentary


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