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Jul 03 - 08:55 PM

EUR/USD - Uptrend Remains In Play Into US Tariff Confusion

By Andrew Spencer  —  Jul 03 - 07:42 PM

• +0.05% after closing off 0.35% with the USD up 0.35% on strong jobs data

• No progress on Ukraine at all, Trump says after a phone call with Putin

• Germany's Merz urges a quick US tariff deal with the deadline days away

• Potential for chaotic markets next week around July 9th, US tariff day

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

• 5, 10 & 21-day moving averages climb - daily charts support further gains

• The first significant resistance is the 1.1909 September 2021 top

• Monday's 1.1708 low, then the 1.1600 21-day moving average initial support

• A close below the close 1.1600 21-DMA would end the May/July topside bias

• No significant option strikes on the U.S. holiday
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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