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Nov 13 - 11:55 PM

EUR/USD - Soft As The USD Firms With Treasury Yields

By Andrew M Spencer  —  Nov 13 - 09:50 PM
  • Trades -0.15 - fresh trend low, with the USD +0.1% as UST yields climb

  • Treasury market is pricing rising inflation under Trump - likely contagious

  • Flash GDP and industrial production lead Eurozone data - unlikely to impact

  • Charts - daily momentum studies slide as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages fall, signals show a bearish trending setup

  • Tuesday's 1.0663 top then Monday's 1.0728 high are initial resistance

  • Next major support is the 1.0448 2023 base, then 1.0402, 0.500% 2022/23 rise

  • 1.0550 1.074 BLN and 1.0600 1.435 BLN are the close strikes for Nov 14th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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