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Thomson Reuters
Jul 06 - 03:48 PM
EUR/USD - Maintains Gains, Extension Seems Likely
First appeared on eFXplus on Jul 06 - 01:35 PM
  • Post-US job lift pierces daily cloud base, little pullback seen
  • DE-US spreads tighten and RSIs are biased up to help buoy the pair
  • Short-term gains likely as market might expect less aggressive Fed
  • Long-term bull run unlikely, ECB & Fed still diverge nL1N1U20XA
  • 1.1850/60 is key short-term resistance, 1.20/1.21 is more significant
  • Rally sellers expecting long-term bear run likely sit 1.20/1.21

chart: Click here

Source:
Thomson Reuters IFR Markets

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