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Jun 21 - 09:55 PM

EUR/USD - Poised Above Pivotal Support, While Strikes Cap

By Andrew M Spencer  —  Jun 21 - 08:15 PM
  • -0.06%, after closing -0.25%, as safe haven USD strength extended

  • IMM data suggested the market is long EUR/USD, which weighs nL1N2DW2CF

  • Charts; momentum studies slip; 5, 10 & 21 DMAs conflict, neutral setup

  • Upper 21 day Bolli rejection & close below 21 DMA targets 1.0950 lower band

  • 1.1157, 38.2% April-June rise is initial pivotal support

  • Break would be bearish signal, targeting 1.1075, 50% April/June rise

  • Earlier 1.1198 high, then 1.8BLN 1.1200/05 strikes first resistance

  • 1.1165 441M strikes and 1.1157 key Fibo are initial supports



eur jun 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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