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Oct 17 - 09:55 PM

EUR/USD - Sustains Offshore Gains - Strong 0.9850/60 Resistance

By Andrew M Spencer  —  Oct 17 - 08:10 PM

  • +0.05% after closing up 1.25%, as sterling led the U.S. dollar lower

  • Turbulence in UK markets has been leading EUR and USD moves lately

  • Policy U-turn in the UK nL1N31I10G, may lead to a period of stability

  • EZ continues to wrestle with rising cost of living and soaring energy costs

  • Charts; momentum studies climb, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands contract - little short term bias

  • 0.9730 NY low and 0.9859, 61.8% October fall initial support, resistance

  • 0.9800 993 mln and 0.9845/50 917 mln are Tuesday's close strikes

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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