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Jan 02 - 02:36 PM
EUR/USD - Key Fibo Break Will Have To Wait For Now
First appeared on eFXplus on Jan 02 - 12:20 PM
  • Break above August high, 23.6% Fib of 1.2556-1.0879 on-hold for now

  • US$ gains, EUR/JPY slide down near 121.00 weighs down EUR/USD today

  • Yield influences also a factor weighing on the pair nL1N2970BU

  • Daily RSI turns from overbought territory, consolidation phase taking hold

  • Pair still above 200-DMA, daily cloud and the rising 10-, 21- & 55-DMAs

  • Short-term pull back is a healthy development for the longer term rally

  • EUR/USD downside could be limited, dip buying likely nL1N2970J4

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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