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Jan 09 - 08:55 PM

EUR/USD - Downward Bias As Trump Policies Underpin UST Yields

By Andrew Spencer  —  Jan 09 - 06:41 PM

• Steady after closing down 0.2%, with the U.S. dollar +0.15%, EUR/GBP +0.25%

• Mixed data - EU retail sales missed, German IP, exports beat expectations

• Downward bias on the soft EZ economy as Trump policy underpins UST yields

• Expect tight EUR/USD ranges in Asia ahead of the often volatile US jobs

• Charts - neutral daily momentum studies, 21-day Bollinger bands slide

• 10 & 21-DMAs ease, weekly moving averages fall - a negative bias

• Monday's 1.0437 top, then Dec 17 1.0535 high are initial resistance

• Wednesday's 1.0273 low, then the 1.0224 January base are the first supports

• 1.0275 1.036 BLN, 1.0300 2.647BLN and 1.0315 1.453BLN close Jan 10th strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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