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Aug 02 - 01:55 AM

EUR/USD - Back In Range After Break Higher Fails Ahead Of 1.0300

By John Noonan  —  Aug 01 - 11:35 PM
  • EUR/USD opened +0.33% at 1.0260 after USD broadly eased on fall in US yields nL1N2ZD2EK

  • After trading at 1.0257 it spiked higher when USD/JPY slid in early Tokyo

  • EUR/USD stops were triggered above 1.0285 to a high at 1.0297

  • Sellers ahead of 1.0300 capped and it settled between 1.0260/80

  • Break above the range top at 1.0279 didn't result in follow-through buying

  • It may be a false break and fall below the 10-day MA at 1.0211 would confirm

  • A break above 1.0300 would target the 50% of 1.0787/0.9952 at 1.0369

  • Key resistance is at the 55-day MA at 1.0426

  • Pelosi inspired geopolitical fears adding to global growth worries nL1N2ZE02J

  • Asia was risk-off and resulted in EUR/JPY selling at various stages

  • It also weighed on US yields, which helped to underpin the EUR/USD

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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