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Apr 08 - 08:55 PM

EUR/USD - Firmer Ahead Of Upcoming US CPI And The ECB

By Andrew M Spencer  —  Apr 08 - 07:35 PM
  • Steady after closing +0.2% with the USD -0.2% ahead of US CPI and the ECB

  • Yield spreads were unchanged with both 10yr Bund and 10yr Treasuries up 5bp

  • German IP surprised in February, led by the construction industry

  • Though a good result for Germany the jury is 'out' on a significant recovery

  • Charts - daily momentum studies base/rise, 21-day Bollinger bands contract

  • 5, 10, and 21-day moving averages conflict - charts suggest consolidation

  • Monday's 1.0821 European low and Friday's 1.0791 base are initial supports

  • Resistance - last week's 1.0876 high then 1.0884, 61.8% of March/April fall

  • There are no close significant strikes for April 9th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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