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Jun 03 - 09:55 PM

EUR/USD - Bid With Tighter Yield Spreads - Charts Eye 1.0980

By Andrew M Spencer  —  Jun 03 - 07:55 PM
  • +0.05% extending Monday's 0.55% rise with the U.S. dollar down 0.5%

  • Bid as yield spreads tightened, 10yr bund -6bp 2.585%, 10yr UST -11bp 4.402%

  • EZ manufacturing saw signs of recovery in May, driving improved confidence

  • Charts - momentum studies edge higher, as 21-day Bollinger bands rise

  • 5, 10, & 21-day moving averages climb - bounce leaves a positive setup

  • 1.0828/32 low yesterday and the 21-day moving average are initial support

  • 1.0921 upper 21-day Bolli band and the 1.0980 March high first resistance

  • 1.0890 550mln, 1.0900 910mln and 1.0925 430mln close strikes for June 4th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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