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Oct 19 - 08:55 PM

EUR/USD - Rally Capped At Key Fibo After US Yields Firm

By John Noonan  —  Oct 19 - 06:46 PM
  • EUR/USD opens 0.20% higher at 1.1632 after trading as high as 1.1670

  • The 38.2 of the 1.1909/1.1522 move is at 1.1670 and has been validated

  • Late move lower due to move up in US yields late in the day nL1N2RF1KK

  • Close above 21-day MA (1.1616 today) suggests bulls in control for now

  • The 21-day MA is now support with more support at the 10-day MA at 1.1588

  • EUR/USD needs to break 1.1670 or risk a return to sideways range trading

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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