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Jul 24 - 08:36 PM
EUR/USD - Steady But Heavy Ahead Of Key ECB Decision
First appeared on eFXplus on Jul 24 - 06:45 PM
  • EUR/USD opens 0.20% lower after trading in a narrow range in the US
  • Weak EZ PMI data kept the weight in the EUR with EUR/GBP falling 0.45%
  • Sideways trading to continue ahead of key ECB event later today
  • ECB not expected to ease, but will likely lay out framework for easing cycle
  • If Draghi assumes 'whatever it takes' posture, the EUR/USD could tumble
  • Support at May 23 trend low at 1.1105 with resistance at 10-day MA at 1.1210

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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