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Feb 08 - 07:55 PM

EUR/USD - Key Support Holds, Yield, Inflation Outlook Lead

By Andrew M Spencer  —  Feb 08 - 06:10 PM

  • Steady after closing 0.15% softer with safe haven U.S. dollar a touch firmer

  • Markets may be too optimistic on inflation, said ECB's de Guindos

  • ECBWATCH prices yields to peak at 3.4285% at the 27th June 2023 meeting

  • Charts; negative momentum studies, gently expanding 21 day Bollinger bands

  • 5, 10 & 21 day moving averages crest/fall - modest negative signals

  • Closed above 1.0692 lower 21 day Bollinger band for third day- key support

  • Sustained 1.0690 break would open the door to the 1.0482 2023 base

  • 1.0760 European high then 1.0833 21 day moving average first resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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