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Dec 05 - 01:55 AM

EUR/USD - Firmer At Familiar Levels Amid Political Uncertainty

By Andrew M Spencer  —  Dec 04 - 10:10 PM
  • +0.1% at the top of a tight 1.0509-1.0522 range with the USD off 0.1%

  • German factory orders, French IP, EZ retail sales lead Eurozone data risk

  • French no-confidence vote succeeds, deepening the political crisis

  • Charts - daily momentum studies edge higher as 21-day Bolli bands contract

  • 5, 10 & 21-DMAs coil, weekly moving averages fall - a modest bearish setup

  • 1.0561 21 DMA caps, then the 1.0610 recent range top is pivotal resistance

  • Last week's 1.0425 base and the November 1.0331 low are initial supports

  • 1.0500 1.198BLN 1.0505 650 mln and 1.0525 1.140BLN strikes for December 5th

For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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