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May 27 - 08:55 PM

EUR/USD - Optimism On Inflation, But Data Will Be Key

By Andrew M Spencer  —  May 27 - 07:55 PM
  • Steady after closing up 0.1% with the U.S. dollar off 0.15%

  • ECB to cut in June - will be data-driven on rate cuts - German CPI Wednesday

  • Bund yields fell, 10yr -4bp to 2.546% on the outlook and soft German data

  • Charts - net positive momentum studies, as 21-day Bollinger bands rise

  • Neutral 5, 10, and 21-day moving averages - consolidates, little bias

  • A close below the 1.0801 21-day moving average would be a bearish signal

  • 1.0801 21-DMA and last week's 1.0884 top are initial support/resistance

  • 1.0860 693 mln and 1.0870/75 1.051 BLN are the close strikes for May 28th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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