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Sep 24 - 09:55 PM

EUR/USD - Buoyant Risk Appetite Supports - Key 1.1200 In View

By Andrew M Spencer  —  Sep 24 - 07:55 PM
  • +0.1% early after closing up 0.65% with the U.S. dollar 0.6% lower

  • EUR supported by broad base risk 'on' USD weakness on the China stimulus

  • German institutes expect the economy to contract in 2024 - likely caps EUR

  • Charts - Tuesday's bounce leaves the key 1.1200 range top in view

  • Neutral daily momentum studies, with horizontal 21-day Bollinger bands

  • 5, 10 & 21-day moving averages flat-line or edge higher - no strong bias

  • Last week's 1.1189 high, then the August 1.1201 top are pivotal resistance

  • This week's 1.1084 low, then the 1.1068 base last week are initial supports

  • 1.1160/65 911mln and 1.1200 1.121BLN are the close strikes for Sept 25th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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