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Oct 04 - 08:55 PM

EUR/USD - Opens Much Higher On Shift In Central Bank Expectations

By John Noonan  —  Oct 04 - 06:35 PM
  • EUR/USD opens +1.67% after USD eased on soft US JOLTS and falling US yields

  • Subtle dovish shift in Fed expectations led to heavy EUR/USD short-covering nL1N3151BI

  • It closed above 21-day MA (0.9897 - signalling end of short-term trend lower

  • The 21-day MA at 0.9897 is now support and break would ease upward pressure

  • A down-trend line drawn from Feb 10 at 1.0053 is key resistance

  • Option related selling around 1.0000 may cap rallies in Asia

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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