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Oct 15 - 09:55 PM

EUR/USD - Bid, But Signals Suggest 1.0550 Is Vulnerable

By Andrew M Spencer  —  Oct 15 - 08:10 PM
  • +0.1% after closing down 0.2% amid safe-haven U.S. dollar demand

  • Yield spreads tightened, 10yr bund -5bp 2.732%, 10yr UST -9bp 4.629%

  • Polish election may provide a new pro-EU government in a major swing

  • Charts - 10 & 21-day moving averages edge lower with 21-day Bollinger bands

  • Signals are again negative - move targets 1.0448 October and 2023 low

  • 1.0640 October remains the key resistance - break to end the downside bias

  • NY 1.0496-1.0547 range is initial support and resistance

  • 1.0500 1.125BLN and 1.0540/50 1.735BLN are the close strikes for Oct 16

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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