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Mar 29 - 08:55 PM

EUR/USD - Coronavirus Control Weighs, As 1.1700 Beckons

By Andrew M Spencer  —  Mar 29 - 06:46 PM
  • Flat after closing off 0.25%, amid broad USD strength, higher UST yields

  • Merkel under pressure to spell out plan to beat virus surge nL1N2LR10D

  • France - nearly 5,000 COVID patients in ICU, as pressure rises nL8N2LR53D

  • Unless Europe ramps up vaccinations quickly, 2021 growth likely downgraded

  • Charts are bearish, as momentum studies, 5, 10 & 21 DMAs track south

  • Targets major long term support at 1.1694, 38.2% of the 2020-2021 climb

  • Close above the falling 1.1903 21 DMA would undermine the downside bias

  • 1.1725 lower 21 day Bolli band and 1.1792 NY high first support, resistance

For more click on FXBUZ


eur mar 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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