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Oct 11 - 09:55 PM

EUR/USD - Downtrend Still Strong As Inflation Fears Churn

By Andrew M Spencer  —  Oct 11 - 08:16 PM

  • Steady after closing down 0.2% amid JPY led broad based USD strength

  • Rising energy prices fuel belief inflation is longer term nL1N2R71EY

  • Ongoing supply chain issues remain a drag on growth nL1N2R7101

  • Charts - 21 day Bolli bands, 5, 10 & 21 day and week moving averages fall

  • Momentum studies conflict - bearish signals in play while 1.1578 10 DMA caps

  • Negative trending setup targets a test of 1.1492, 50% 2020-21 rise

  • 1.1535/45 673 MLN and 1.1600 437 MLN and 1.1615 1.405 BLN close strikes

  • Earlier 1.1547 Asian low and 1.1578 10 DMA are initial support resistance

For more click on FXBUZ


eur Oct 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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