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Aug 10 - 08:55 PM

EUR/USD - Slow Grind Lower Continues As 2021 Low Nears

By John Noonan  —  Aug 10 - 07:18 PM
  • EUR/USD opens -0.13%, as higher US yields underpin USD against safe-haven nL1N2PH20B

  • EUR/USD slowly grinding towards the 2021 low made on March 31 at 1.1704

  • Key fibo support is at the 38.2 of the 1.0636/1.2349 move at 1.1694

  • EUR/USD resistance is at 1.1805/10 where the 10 & 21-day MAs converge

  • Sellers are tipped at 1.1750/60 which was former resistance

  • Trend lower is forming with 5, 10 and 21-day MAs pointing lower

  • EUR/USD likely to range trade in Asia ahead of key US CPI later today

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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