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Jun 22 - 10:55 PM

EUR/USD - Downtrend On Hold, But Remains Valid, As USD Leads

By Andrew M Spencer  —  Jun 22 - 08:16 PM

  • Steady after closing up 0.2%, led by soft safe haven USD on dovish Powell

  • Potential progress in bipartisan US infrastructure group talks nL2N2O42UN

  • A breakthrough in the talks would likely be a negative for safe haven USD

  • 502M 1.1900/05, 363 1.1950 and 516M 1.1975 are Wednesday's close strikes

  • Charts; 21 day Bollinger bands ease, 5, 10 & 21 daily moving averages fall

  • Trending setup targets 1.1837, 76.4% March-May rise, which held Friday

  • Close above the 1.1997 200 DMA needed to undermine the downside bias

  • European 1.1881 low and NY 1.1952 high is initial support, resistance

For more click on FXBUZ


eur jun 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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