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Apr 18 - 08:55 PM

EUR/USD - 1.2000 Resilient, But Vulnerable As The USD Falls

By Andrew M Spencer  —  Apr 18 - 07:07 PM

  • -0.1% after closing up 0.15%, as 1.2000 proved resilient last week

  • Italy risks missing Recovery Plan deadline due to EU concerns nL8N2MA0CP

  • Plan needs all 27 countries to deliver - several struggle nL8N2M94Z0

  • Italian plan lacks detail - success of EU recovery plan key for growth

  • Charts; momentum studies 5, 10 & 21 DMAs base/rise - positive signals

  • Major resistance around 1.2000 - 1.1995 Friday top, 1.2007 cloud base

  • 1.2032 upper 21-day Bollinger band, good indicator of an overbought market

  • 1.2037, 61.8% of the Feb-March fall - major news needed for a 1.2050 break

  • 1.1932 10 DMA and 1.1912 200 DMA are major support

    For more click on FXBUZ


eur apr 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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