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Aug 10 - 09:55 PM

EUR/USD - 2021 Low, 1.1700 Strikes Major Support But Vulnerable

By Andrew M Spencer  —  Aug 10 - 08:24 PM

  • Flat after closing -0.15%, as firmer USD and soft ZEW capped nL8N2PH2DA

  • Delta variant possible significant economic impact come winter nL1N2PH15B

  • U.S. CPI data tonight likely key for UST yields, USD and thus EUR/USD

  • Charts; 5, 10 & 21 daily moving averages and momentum studies crest or fall

  • 1.1711 falling 21 lower daily Bollinger band is resilient first support

  • 2021 base at 1.1704 just below - break targets 1.1602 November 2020 low

  • Downside bias while 1.1805/09, falling 21 and 10 day moving averages hold

  • 1.1700 913M and 1.1750 784M are today's substantial close strikes

    For more click on FXBUZ


eur aug 11 Click here

Source:
Refinitiv IFR Research/Market Commentary

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