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Sep 23 - 12:55 PM
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MUFG: EUR/USD Technically Background Indicates a Shift in Sentiment
By eFXdata — Sep 23 - 11:30 AM
MUFG Research sees a scope for further EUR/USD decline on technical-basis.
"Technically, the backdrop for EUR/USD also does not look good. The trendline support from the intra-day low in February 2025 (when Trump first started to announce his tariff policies) and the intra-day low on 28th July has been under threat in recent trading days but yesterday broke more substantially below that trendline and signals an extension of the move lower over the coming days.
"EUR/USD 25d risk-reversals all dropped sharply yesterday indicating a shift in sentiment as EUR/USD breaks key levels," MUFG notes
Source:
MUFG Research/Market Commentary