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Aug 23 - 10:55 PM

EUR/USD - Negative Bias Survives Bounce - 1.1778 Is Key

By Andrew M Spencer  —  Aug 23 - 08:59 PM

  • Steady early after closing up 0.4% - USD led as risk appetite returned

  • Scientists - floods in Western Europe at least 20% more likely nL1N2PU1SE

  • Charts; 5, 10 & 21 daily moving averages conflict, 21 day Bolli bands ease

  • Modest negative setup, targets 1.1602 September and November 2020 range base

  • Downside bias remains intact while 1.1778 21 daily moving average caps

  • Sustained 1.1780 break would open the door to 1.1907 upper 21 day Bolli band

  • London 1.1715 low and NY 1.1750 high are initial support and resistance

  • 1.1715/25 964 mln, 1.1750 568 mln and 1.1775 688mln today's close strikes

For more click on FXBUZ


eur aug 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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