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Jul 27 - 01:55 AM

EUR/USD - Reclaims Some Ground As Market Awaits Fed Decision

By John Noonan  —  Jul 26 - 11:50 PM
  • EUR/USD opened -1.0% at 1.0116 after EU energy supply fears worsened nL1N2Z70KX

  • EUR/USD tracked higher in Asia due to short covering ahead of Fed decision

  • It is trading close to the session high at 1.0147 into the afternoon

  • EUR/USD sentiment is bearish due to EZ growth and inflation concerns

  • A 75 BP hike by the Fed (expected) and hawkish commentary from Powell would leave EUR/USD vulnerable nL4N2Z80RN

  • Resistance is at former support at the 10-day MA at 1.0158

  • Key resistance is at the July 21 trend high at 1.0279

  • There are bids 1.0080/1.0100 with no support of note ahead of 1.000

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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