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Apr 06 - 01:55 PM

EUR/USD - Dips Remain Shallow And Longs Are Happy

By Christopher Romano  —  Apr 06 - 12:14 PM
  • Choppy overnight action leads to a short lived dip below 1.1800

  • Buyers emerge as US$ get sold on improved risk sentiment

  • Lower US interest rates, higher equities & oil help sink the US$

  • EUR/USD reverses, turns positive, rallies through 1.1825/30 resistance

  • Pair nears the 21-DMA (1.1855) and March 24 daily high (1.1854)

  • Stops likely trigger, shorts get squeezed if those resistances get broken

  • Bulls then target 1.1945/50 and 1.1990/1.2000 resistance zones

  • For more click on FXBUZ




eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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