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Apr 07 - 08:55 AM

EUR/USD - Hurdles Big Level Opening Door For Larger Gains

By Jeremy Boulton  —  Apr 07 - 06:43 AM
  • EUR/USD hurdles 200-DMA at 1.1886 to reach 1.1894 EBS

  • Last 200-DMA break in May 2020 led to massive rise nL1N2M00C8

  • Dollar is suffering a crisis of confidence nL1N2M00K3

  • Initial target for current rise is 1.1950 or 38.2% drop from 2021 peak

  • 50% retrace 1.2026 and upper band of 20-day Bollingers is 1.2019

  • Series four daily highs ahead 1.20 in March preceded drop to 1.1704

Source:
Refinitiv IFR Research/Market Commentary

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