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Jul 07 - 05:55 PM

EUR/USD - 2021 Lows Lure With Fed Taper Likely, ECB Largess To Last

By Randolph Donney  —  Jul 07 - 03:20 PM

  • EUR/USD heavy, flirting with a sub-1.1800 close post Fed minutes

  • Low of 1.17815 on before the minutes and after May JOLTs nL2N2OJ1FQ

  • 1.1838 high capped near the broken 76.4% Fibo of 2021's range at 1.1837

  • Minutes did little to change view Fed will taper unless recovery stalls

  • ECB Thur to announce long-awaited, dovish policy review nL2N2OJ1YZ

  • Prices are oversold on daily RSI, but weekly charts remain bearish

  • March's 2021 low & 382.% of 2020-21 rebound at 1.1704/695 key props

For more click on FXBUZ



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Source:
Refinitiv IFR Research/Market Commentary

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