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Thomson Reuters
Jul 03 - 05:00 AM
EUR/USD - Big Opposing Forces Wrestle EUR/USD, 21-DMA May Be Key
First appeared on eFXplus on Jul 03 - 03:05 AM
  • EUR/USD weighed by political uncertainty and fact traders remain net long
  • Risk aversion emanating from China markets logically to underpin the euro
  • Risk aversion also props USTs which will push yields down undermine USD
  • China unlikely to unwind UST holdings. Fed to buy more USTs Q3 nL8N1TY37O
  • Bearish short/m-term techs key factor weighing EUR/USD. Watch 21-DMA 1.1669
  • Critical l-tem techs and options support 1.14-1.15

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Source:
Thomson Reuters IFR Markets

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