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Aug 07 - 01:55 PM

EUR/USD - Dip Buyers Tip Their Hands

By Christopher Romano  —  Aug 07 - 12:00 PM
  • EUR/USD briefly pierced the trend line off the July 18 high then fell

  • Pair slid towards the Aug 3 daily high but stalled, buyers emerged

  • US$ selling driven by drop in UST 2-yr yieldUS2YT=RR lift EUR/USD

  • EUR/USD is now near the 10-DMA & a daily bull hammer candle formed

  • RSIs currently are near neutral & a monthly doji candle is in place

  • Investors may not be aggressive until key data risks pass

  • July China, German, US CPI and PPIs are due, may impact risk significantly

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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