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Aug 16 - 10:55 PM

EUR/USD - Key Support Held Providing A Potential Range Base

By Andrew M Spencer  —  Aug 16 - 08:35 PM

  • Steady after closing up 0.1%, supported by cross demand, EUR/JPY +0.8%

  • Post Brexit UK friction - dispute resolution over research nL8N2ZS3WZ

  • Liz trust, likely next UK PM behind the move - expect conflict if elected

  • 5, 10 & 21 day moving averages crest, negative daily momentum studies

  • 21 day Bollinger bands expand - signals remain modestly negative

  • 1.0115, lower 21 day Bolli and 1.0111 61.8% Jul/Aug rise a base Tuesday

  • Support around 1.0100 likely resilient - potential range base

  • 1.0150 394 mln, 1.0175 360 mln, 1.0190/00 726 mln Wednesday's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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