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Oct 28 - 08:55 AM

EUR/USD's Rebound Puts The Focus On Key Fibo Resistance

By Martin Miller  —  Oct 28 - 07:35 AM
  • EUR/USD has made recovery moves from recent lows

  • Focus is on the 1.0869 Fibo, a 23.6% retrace of the 1.1214-1.0762 (EBS) drop

  • A break and close above 1.0869 Fibo would increase the upside bias

  • However, those bearish should be mindful of negative 14-day momentum

  • A break under 1.0762 would shift the bias back to the downside

  • EUR/USD Trader TGM2334. Previous nL1N3LU075

  • Dollar shorts have thrown in the towel nL1N3M30DX

Source:
Refinitiv IFR Research/Market Commentary

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