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Aug 11 - 10:55 PM

EUR/USD - Poised Below Key Resistance - Large Close Strikes

By Andrew M Spencer  —  Aug 11 - 08:05 PM

  • Steady after leading the USD lower on Thursday, closing up 0.25%

  • EUR was stronger across the board, EUR/JPY +0.35%, EUR/GBP +0.4%

  • Little news, so EUR strength likely short covering in thin summer markets

  • 5, 10 & 21 day moving averages rise with the daily momentum studies

  • 21 day Bollinger bands contract - topside bias remains in place

  • 1.0369, 50% of the May-July fall capped - break to target 1.0468 61.8%

  • Close below 1.0210 21 DMA a base in August would end the topside bias

  • 1.0300/05 2.62 BLN. 1.0325 700mln and 841 mln 1.0350, Friday's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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