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Apr 05 - 10:55 PM

EUR/USD - Bounce Leaves Some Positive Signals - 1.1882 Is Key

By Andrew M Spencer  —  Apr 05 - 08:37 PM

  • +0.1% after closing up 0.5%, as the safe haven USD fell with rising stocks

  • Quiet start with E-mini S&P, Nikkei flat - likely tight EUR range in Asia

  • Charts; bullish outside day and close above 1.1774 10 DMA is positive

  • 1.1852 21 daily moving average & 1.1882 200 day MA are key resistance

  • 10 & 21 daily moving averages track south with the 21 day Bollinger bands

  • Longer term bias remains lower while the 1.1852-1.1882 level holds

  • 1.1694 38.2% 38.2% of the 2020-2021 climb remains significant support

  • 1.1795 late morning NY low and 1.1853 21 DMA initial support, resistance

    For more click on FXBUZ


eur apr 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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