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Dec 05 - 07:55 PM

EUR/USD - Soft As Divergent Central Bank Expectations Weigh

By Andrew M Spencer  —  Dec 05 - 06:14 PM

  • -0.1% after closing up 0.1%, as choppy consolidation around 1.1300 extends

  • Primary downtrend remains supported by divergent ECB and Fed expectations

  • ECB's Lagarde believes no major changes at Dec 16th meeting nL1N2SO0IT

  • Fed policymakers preparing to fight inflationary pressures nL1N2SO1BR

  • Charts show contracting 21 day Bolli bands with coiling 5, 10 & 21 DMAs

  • Neutral setup, but primary downtrend holds while 1.1347 21 DMA caps

  • Longer term target remains a test of 1.1040, 76.4% of the 2020-2021 rise

  • NY 1.1267-1.1334 range initial support, resistance - no major close strikes

For more click on FXBUZ


eur Dec 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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