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Mar 31 - 05:55 PM

EUR/USD - Recovery Muffled By Recent Lows, Targets By 1.16 Remain

By Randolph Donney  —  Mar 31 - 03:49 PM

  • EUR/USD's breakdown below its 200-DMA last week is getting oversold

  • But remains on track to retest November & September lows at 1.1602/12

  • Those lows are by the weekly cloud top and lower 21-week Bolli band

  • Today's 1.1760 EBS high is by Monday, Friday and Thursday's lows

  • May be it for topside before a test of 1.1695, 38.2% Fibo March-Jan rally

  • If that gives way, the circa 1.16 targets are next

  • Countertrend, corrective buys would then be a possibility

For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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