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Jan 04 - 02:55 AM

EUR/USD - Heavy, Sell Rallies To 1.06 Preferred

By Catherine Tan  —  Jan 04 - 01:10 AM
  • EUR/USD remains heavy after sell-off yesterday to 1.0518 low

  • Close below 1.0498 fibo support targets 1.0351 next

  • Short dates moving averages turning down, resistance at 1.0605 5dma

  • Focus on Fed minutes this evening and EU CPI on Friday

  • Estimates for Dec EU CPI at 9.5%y/y from 10% in Nov

  • Higher rates needed to curb inflation but ECB to face recession challenges

  • No end in sight on Russian/Ukraine war adds risk to energy/geopolitical woes

  • EUR/USD last at 1.0569-73, traded amid 1.0539-78 range so far

  • Sell rallies to 1.06 preferred, bull run from Sept lows over

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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