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Jun 21 - 12:12 PM
EUR/USD - U.S. PMIs Give Bulls A Booster Shot
First appeared on eFXplus on Jun 21 - 10:00 AM
  • June Markit services nN9N21F027 & mfg nN9N21F026 PMI below f/c
  • Manufacturing PMI result at 50.1, very close to contraction territory
  • US$ sinks, UST yields slip, eurodollar prices rally, ups chance of Fed cuts
  • EUR/USD nears 1.1338/50 resistance zone but stalls, little pullback seen
  • Techs are bullish, daily cloud supports while RSIs are rising
  • Bears need below 1.1260/70 to chase the bulls a bit

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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