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Dec 15 - 07:55 PM

EUR/USD - Recovers From The Early Dip - Huge 1.0500 Strikes

By Andrew M Spencer  —  Dec 15 - 06:30 PM
  • Steady after an early 0.15% dip - closed up 0.35% with the USD steady

  • Heavy EUR/GBP FX matching flow Friday, after weak UK data EUR/GBP +0.73%

  • Macron's new PM Bayrou faces budget battle with fractious French parliament

  • Bayrou will need an unlikely change of heart from the opposition to succeed

  • Charts - mixed daily momentum studies, amid neutral 21-day Bollinger bands

  • 5, 10 & 21-DMAs conflict, weekly moving averages fall - no strong bias

  • 1.0668 0.382% of the September/November fall remains pivotal resistance

  • Thursday's 1.0531 high and the December 1.0630 top are the first resistance

  • Friday's 1.0453 base and then the November 1.0331 low are initial support

  • Dec 16th 1.0500 3.188 BLN strikes may anchor EUR/USD in Asia

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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