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Apr 27 - 08:55 PM

EUR/USD - Trend Lower Accelerates With 2017 Low The Next Objective

By John Noonan  —  Apr 27 - 07:35 PM
  • EUR/USD fell 0.92% as USD strengthened and impact of Russian gas cut-off weighs nL2N2WP2GV

  • The break and close below 2020 low at 1.0636 targets the 2017 low at 1.0340

  • Option related bids ahead of 1.0500 may slow the downward trajectory for now

  • A break below 1.0500 would spark speculation that parity is on the cards nL3N2WP2A2

  • EUR/USD stuck in down-trend with 5, 10 & 21-day MAs in a bearish alignment

  • Only a break above the 10-day MA at 1.0733 would ease downward pressure

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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