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Mar 24 - 08:55 PM

EUR/USD - Bearish Setup As The Diverging Economic Outlooks Weigh

By Andrew M Spencer  —  Mar 24 - 07:10 PM
  • Steady after closing down 0.47% amid broad-based USD strength

  • USD strong on the perception that Europe will cut rates quicker than the USD

  • The strong U.S. economy compared to the weaker European outlook weighs

  • Yield spreads widened, 10yr bund -7bp to 2.321%, 10yr UST -5bp to 4.224%

  • Charts - daily momentum studies head lower as 21-day Bolli bands expand

  • 5, 10, and 21 DMA edge lower - overall a bearish technical setup

  • 1.0804, 61.8% of the February/March rise is under pressure and vulnerable

  • A 1.0800 break would target 1.0756, 0.786% of the February/March rise

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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