By Andrew M Spencer — Aug 14 - 08:45 PM
Steady after closing down 0.4% amid broad base U.S. dollar strength
Wider yield spreads weighed, 10yr bund +1bp 2.637%, 10yr UST +4bp 4.203%
Uncertainty on the economic outlook for China drives safe-haven USD demand
Techs; 21-day Bollinger bands and daily momentum studies slide
5, 10 & 21-day moving averages fall - signals show a strong negative bias
1.0879, 61.8% May-July rise, and 1.0874 New York low are initial supports
NY afternoon 1.0936 high then Europe's 1.0960 top are the first resistance
1.0900 1.280BLN and 1.0940 2.306BLN are the close strikes for August 15
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Source:
Refinitiv IFR Research/Market Commentary