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Jun 11 - 04:55 AM

EUR/USD - Risk Aversion Dents EUR/USD Rise But Cause To Expect Rebound

By Jeremy Boulton  —  Jun 11 - 02:35 AM
  • EUR/USD hit 1.1422 (EBS) after Fed met dovish expectations nW1N2CX03R

  • Pair then dropped to 1.1325 as Fed view soured risk appetite weighing stocks

  • Dip is due to profit taking, unwind longs (profitable bets often reinstated)

  • Considering extent and pace of gains longs are not that large IMM/FX

  • Profit taking likely brief presenting better levels to buy not a turnaround

  • Strong support @ weekly cloud top and 100-WMA 1.1225/1.1220

  • Further support (key for upmove) @ daily cloud top 1.1065 and 200-DMA 1.1023




EUR/USD daily Click here

EUR/USD weekly Click here

Source:
Refinitiv IFR Research/Market Commentary

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