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Jun 16 - 01:55 PM

EUR/USD - Bears Have The Advantage, Hope The Fed Bolsters It

By Christopher Romano  —  Jun 16 - 12:51 PM
  • Technicals suggests bears have the advantage ahead of the Fed meeting

  • EUR/USD currently trades below the bearishly aligned 10- & 21-DMAs

  • Falling daily, monthly RSIs imply downside momentum is in place

  • Psychological support near 1.2100 remains an impediment for shorts

  • Fed could be the catalyst EUR/USD shorts need to resume the slide

  • If Fed is deemed less dovish US interest rate, US$ should rally

  • EUR/USD then likely falls, support near 1.2050, 200-DMA then targeted

  • For more click on FXBUZ

eur/gbp Click here

Source:
Refinitiv IFR Research/Market Commentary

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