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May 23 - 09:55 PM

EUR/USD - Improving Economy Undermines Rate Cut Expectations

By Andrew M Spencer  —  May 23 - 07:45 PM
  • Steady after closing -0.05% with the USD up 0.1%, as inflation fears rise

  • Euro zone business activity expanded at its fastest pace in a year

  • ECBWATCH prices 58.1 in cuts for December from 65.7 at last Friday's close

  • Charts - negative momentum studies, 10, and 21-day moving averages climb

  • 21-day Bollinger bands rise - uptrend stalled, but signals are net positive

  • A close below the 1.0785 21-DMA would turn the bias lower for next week

  • 1.0785 21-DMA and the 1.0861 New York high are initial support/resistance

  • 1.0820/30 2.292 BLN strikes likely cap the EUR/USD today in Asia

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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