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Oct 05 - 08:55 PM

EUR/USD - Positive Close Opens The Door To 1.1900

By Andrew M Spencer  —  Oct 05 - 06:55 PM
  • Little changed after closing up 0.6%, as investor optimism saw the USD lower

  • Risk appetite rather than interest rate differentials are driving at present

  • Charts, nearly two weeks within the rising daily cloud - 1.1591-1.1869 today

  • 5, 10 & 21 DMAs conflict, momentum studies flat line - a neutral setup

  • Close above 1.1764 21 DMA is positive - 1.1813 50% September fall next stop

  • Lower 21 day Bolli rejection & close above 21 DMA targets 1.1902 upper band

  • NY afternoon 1.1772 low and NY 1.1797 high are initial support-resistance

  • 1.1700 330M and 1.1725 766M closest strikes - tight Asian range likely

    For more click on FXBUZ

eur oct 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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