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Dec 21 - 08:55 PM

EUR/USD - Uptrend Stalled - Yield Spreads Key To Next Move

By Andrew M Spencer  —  Dec 21 - 07:15 PM

  • Flat early - closed +0.15%, despite a firmer USD, on EUR/GBP, EUR/JPY demand

  • EUR/GBP +0.7% after UK public spending unexpectedly surged nL8N33B12L

  • Bund/UST 10yr yield spreads tightened 5bp, major change may prompt next move

  • Charts; euro stalled below pivotal 1.0743 61.8% 2022 fall - capped last week

  • Momentum studies edge lower, 5, 10 & 21 day moving averages conflict

  • 21 day Bollinger bands head higher - topside bias while 1.0525 21 DMA holds

  • NY 1.0590-1.0646 range is initial support, resistance

  • 1.0630/45 612 mln are the close strikes for December 22

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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