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Feb 12 - 07:55 PM

EUR/USD - Edges Higher Ahead Of Key US Inflation Data

By Andrew M Spencer  —  Feb 12 - 06:00 PM
  • +0.05% after closing down 0.1%, but a fourth higher daily high

  • Yield spreads widened, 10yr bund -3bp 2.359%, 10yr UST -1bp 4.179%

  • ECB board member Cipollon - no need to slow the economy to fight inflation

  • Charts; daily momentum studies conflict, 21-day Bollinger bands contract

  • 10 & 21-day moving averages slide - daily charts retain a negative bias

  • Well tested support at 1.0712/23 - the Dec low and 61.8% of Oct/Dec rise

  • A close above resilient 1.0828 falling 21-DMA would end the downside bias

  • NY's 1.0756 low and Europe's 1.0805 high are initial support and resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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