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Jun 03 - 01:55 PM

EUR/USD - One Impediment Breaks, A Key One Is Near Breaking

By Christopher Romano  —  Jun 03 - 11:45 AM
  • EUR/USD fell towards the 21-DMA overnight, 1.0828 hit on EBS, buyers emerged

  • Pair rallied above the 10-DMA, turned positive then struck a 12-session high

  • Trend line off the May 16 daily high was pierced, May's monthly high neared

  • Daily bull hammer formed, daily & monthly RSIs rising; techs are bullish

  • Break of the May 16 high would complete the consolidation phase for EUR/USD

  • Stop loss buying may trigger which would add to bullish momentum

  • EUR/USD bulls then likely target the March monthly high at 1.0980

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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