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Sep 29 - 09:55 PM

EUR/USD - Key Resistance In View, After Basing Ahead Of 1.1600

By Andrew M Spencer  —  Sep 29 - 08:10 PM
  • Flat in Asia, consolidating Tuesday's +0.66% into U.S. presidential debate

  • Month end and weak USD correlations - muted reaction to the debate viable

  • Sep 28 Morgan Stanley FX Positioning tracker has EUR neutral from long

  • Suggests that news and sentiment, not positioning will drive the next move

  • Techs show 10 & 21 DMAs falling with 21 day Bollinger bands contracting

  • Net bearish setup - 1.1612 Sep low & 1.1591, 50% Jun-Sep rise key support

  • Close above the falling 1.1781 21 DMA would end the downside bias

  • 1.1710 NY PM base & 1.1765, 38.2% of the Sep fall initial support-resistance


    For more click on FXBUZ

eur sep 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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