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Jul 25 - 09:48 PM
EUR/USD - Opens Unchanged After Choppy Reaction To ECB
First appeared on eFXplus on Jul 25 - 06:30 PM
  • EUR/USD whipped between 1.1101/88 in choppy reaction to ECB
  • ECB signalled easing to come, but unclear as to what they will do
  • Market disappointed by lack of clarity bought EUR on crosses
  • EUR/JPY rose 0.50%, the EUR/CHF gained +0.65% and EUR/GBP rose 0.30%
  • EUR/USD support at 1.1100/10, where option related buyers sit
  • Resistance at 10-day MA at 1.1198 and break suggest bottom in place
  • EUR/USD likely to range trade ahead of key FOMC meeting next week

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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