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Jul 05 - 01:55 PM

EUR/USD - Rally Sellers Are Likely To Become More Aggressive

By Christopher Romano  —  Jul 05 - 12:35 PM
  • EUR/USD rallied to 1.0449 on EBS but then turned negative on the session

  • The pair broke major support in the 1.0335/50 zone & stop selling triggered

  • A 19-1/2-year low was set, pair hit 1.0236 on EBS, very little bounce seen

  • End of consolidation begun in May, falling daily & monthly RSIs are bearish

  • Investors who had been looking to sell rallies have to be more aggressive

  • Offers likely now near 1.0335/50, old support turned into resistance

  • EUR/USD may go to parity and beyond nL1N2YM12O

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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