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Aug 24 - 10:55 PM

EUR/USD - Bid Early As The USD Slips - Large Parity Strikes

By Andrew M Spencer  —  Aug 24 - 08:35 PM

  • +0.15% with a softer USD, after little change and an inside day on Wednesday

  • Surging energy prices, especially gas drive EZ inflation expectation higher

  • EZ yields hit new August high, expecting a hawkish ECB reaction nL1N3000MT

  • Cost of living crisis and potential rate hikes means a very tough winter

  • 5, 10 & 21 day and week moving averages fall, mixed daily momentum studies

  • 21 day Bollinger bands expand - daily and weekly charts are bearish

  • NY 0.9995 low is initial support, then Tuesday's 0.9900 trend low

  • Close above 1.00075 10 day moving average needed to end downside bias

  • 0.9950/55 1.213BLN and 1.0000 2.336 BLN Thursday's significant strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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