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May 12 - 04:55 AM

EUR/USD - Below 1.0470 And 2017 Levels Come Into Play

By Peter Stoneham  —  May 12 - 02:50 AM
  • Dollar strength driving broader FX moves Thurs: risk being sold

  • Inflation and growth-recession concerns unsettling the markets

  • U.S. inflation moderated less than expected: focus on Fed nL2N2X315F

  • Aggressive Fed hiking and poor risk sentiment underpinning the dollar

  • EUR/USD drops under 1.0500: 1.0470 Apr low pivotal support-EBS pricing

  • Little in the way of support until 1.0340 Jan 2017 low

  • The Jan 2017 low backed up by 1.0335 low from 2003

    For more click on FXBUZ







EUR/USD daily candle chart: Click here

EUR/USD monthly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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