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Aug 15 - 08:55 PM

EUR/USD - Poised To Move Higher After Strong Bounce From Support

By John Noonan  —  Aug 15 - 06:18 PM
  • EUR/USD surged 0.56% higher Friday following weak US consumer sentiment nL1N2PK1OG

  • Bounce from key support around 1.1700 likely to encourage short-covering nL1N2PK21N

  • EUR/USD trading around 21-day MA at 1.1800 after it topped at 1.1804 Friday

  • Resistance is at the 38.2 fibo of the 1.1909/1.1706 move at 1.1831

  • EUR/USD not trending and looks set to range 1.1700/1.1900

  • The bias is for a test of upper end of range in immediate-term

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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