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Jan 18 - 07:55 PM

EUR/USD - Steady - Choppy Session, As U.S. Recession Fears Grow

By Andrew M Spencer  —  Jan 18 - 06:30 PM

  • -0.05% early after closing up just 0.05% in a choppy session

  • Risk off on Wall Street after soft data, as U.S. recession fears grow

  • Hopes rise Germany could avoid recession in 2023, as inflation eases

  • Charts; momentum studies crest, 21 day Bollinger bands edge higher

  • 10 & 21 day moving averages continue to rise - net positive setup

  • Targets significant resistance at 1.0938 50% of the 2021-2022 fall

  • Close below 1.0694 rising 10 day moving average would end topside bias

  • Wednesday's 1.0766 low and NY 1.0887 high initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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