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Jul 27 - 09:55 PM

EUR/USD - Trend Higher Accelerates As Key Resistance In Focus

By John Noonan  —  Jul 27 - 07:35 PM
  • EUR/USD opens 0.80% higher after another day of heavy USD selling

  • Rise in US coronavirus infection and dovish Fed expectations undermining USD nL2N2EY1H0

  • EUR/USD correlation with gold strengthening after gold gained over 2.0%

  • Next resistance for EUR/USD at 61.8 of 1.2556/1.0636 move at 1.1822

  • EUR/USD trending higher with 5, 10 and 21-day MA in bullish alignment

  • Support at Monday's 1.1640 low as break ends 7 days of higher lows

  • For more click on FXBUZ








Source:
Refinitiv IFR Research/Market Commentary

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