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Feb 13 - 07:55 PM

EUR/USD - Italy's Right Turn Sustained, Signals Remain Negative

By Andrew M Spencer  —  Feb 13 - 06:35 PM

  • Steady after closing up 0.45%, supported by broad risk on USD weakness

  • Yen cross flow also supported, broad yen weakness, with EUR/JPY up 1.15%

  • Italy's Meloni triumphs in regional votes, strengthens grip on power

  • Turnout in Italy election only 40%, but a resounding right wing victory

  • Charts; neutral momentum studies, 21 day Bollinger bands expand

  • 10 & 21 day moving averages head lower - remains a negative setup

  • Falling 1.0653 lower 21 day Bollinger band supports - base for a 6th day

  • Friday's 1.0752 high then Thursday's 1.0791 top are first resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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