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Dec 15 - 07:55 PM

EUR/USD - Opposing Forces Contain, But Topside Bias Remains

By Andrew M Spencer  —  Dec 15 - 06:00 PM
  • Touch firmer after closing +0.1%, capped by EUR/GBP -1% selling

  • Risk on broad USD weakness capped by Brexit deal optimism nL1N2IV1JY

  • COVID-19 hits well being, economy in France nL8N2IV65B, Italy nL1N2IV24D

  • Large EU states commit to coordinated vaccine roll out nR1N2HO002

  • Charts, inside day - 5, 10 & 21 daily weekly and monthly MAs climb

  • Trend stalled, after the 1.2177 December high capped again on Monday

  • Sustained break of 1.2180 would open the door to 1.2556 2018 high

  • Close below 1.2125 well tested 10 DMA needed to undermine topside bias

For more click on FXBUZ


eur dec 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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