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Nov 23 - 07:55 AM

EUR/USD - PMI Beats Lift EUR/USD But Pandemic And Lockdown Risk Weigh

By Jeremy Boulton  —  Nov 23 - 05:35 AM
  • EUR/USD rises 1.1226-1.1275 EBS following PMI beats

  • German manufacturing Nov PMI 57.6 from, 57.8 beating 56.9 f/c

  • German services 53.4 from 52.4 and vs a 51.5 f/c

  • Eurozone manufacturing Nov PMI 58.6 from 58.3 and vs 57.3 f/c

  • Eurozone services 56.6 from 54.6 and vs 53.5 f/c

  • Worsening pandemic, Austria lockdown and risk of more to weigh

  • Base 20-day Bollinger bands, now 1.1206, is steeply falling

  • Growing scope for a deeper drop, 1.1040 is next major target



EURUSD weekly Click here

EURUSD daily Click here

Source:
Refinitiv IFR Research/Market Commentary

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