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Nov 22 - 11:55 PM

EUR/USD - Steadies After Making Fresh 202L Low

By John Noonan  —  Nov 22 - 10:14 PM
  • EUR/USD opened -0.55% at 1.1233 after USD spiked on Powell appointment nL1N2SD269

  • It dipped to a fresh 2021 low at 1.1226, but there wasn't any follow-through

  • Heading into the afternoon it is idling around 1.1235

  • EUR/USD is trending lower and showing no sign of bottoming out

  • The 5, 10 & 21-day MAs are in a bearish alignment and pointing lower

  • Resistance is at the 10-day MA at 1.1352 and a break would ease the pressure

  • There isn't any decent support until the 76.4 of 2020/2021 move at 1.1040

  • Diverging Fed-ECB expectations will likely keep EUR/USD under pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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