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Aug 14 - 09:55 PM

EUR/USD - Steady Above Key Support After Topside Held Last Week

By Andrew M Spencer  —  Aug 14 - 08:05 PM

  • Steady after closing off 0.6%, despite very strong EZ IP nL8N2ZO214

  • No market moving weekend news, so charts the best short term indicator

  • Technical dip Friday, as key 1.0369 resistance held after the mid week spike

  • 5, 10 & 21 day moving averages rise, neutral daily momentum studies

  • 21 day Bollinger bands contract - topside bias remains in place

  • 1.0369, 50% of the May-July fall capped - break to target 1.0468 61.8%

  • Close below 1.0215 21 DMA, a base in August, would be a bearish signal

  • There are no significant close strikes on Monday

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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