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Sep 15 - 08:55 PM

EUR/USD - Resilient - Range Viable Into The Fed Rate Decision

By Andrew M Spencer  —  Sep 15 - 07:15 PM

  • Steady early after closing up 0.15%, with EUR/GBP +0.8% and EUR/JPY +0.4%

  • Euro strength was not news or data driven, more likely positioning flows

  • Fighting inflation remains the priority for the German gov't nL8N30M5FC

  • Charts; 5, 10 & 21 daily moving averages coil - momentum studies conflict

  • 21 day Bollinger bands contract - mixed signals favour consolidation

  • September 0.9864-1.0198 range to hold into Fed on September 21

  • Early Europe 0.9956 low and NY 1.0018 high initial support, resistance

  • 0.9945/50 349 mln, 0.9995/00 434 mln are the close strikes for Friday

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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