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Aug 10 - 10:55 PM

EUR/USD - Key Resistance Held, But Charts Support Further Gains

By Andrew M Spencer  —  Aug 10 - 08:55 PM

  • Steady after bouncing 0.85% on the softer than expected U.S. CPI

  • German government struggles with measures to help economy nL8N2ZM2T0

  • Most governments in Europe are facing a similar dilemma to Germany

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

  • 21 day Bollinger bands head higher - topside bias after range break

  • 1.0369, 50% May-July fall capped - break would target 1.0468 61.8%

  • Close below 1.0195 21 DMA a base in August would end the topside bias

  • 1.0275/80 548 mln, 1.0300 590 mln are Thursday's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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