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Dec 06 - 07:55 PM

EUR/USD - Remains Heavy As Yields Spreads Expand

By Andrew M Spencer  —  Dec 06 - 06:05 PM

  • Steady after closing -0.2%, as the disparate Fed-ECB inflation outlook caps

  • Yield spreads jumped, 10yr DE10YT=TWEB -0.387% -1bp, US10YT=TWEB 1.439% +9bp

  • EZ finance ministers optimistic on growth, despite the Omicron nL1N2SR1LL

  • Charts show contracting 21 day Bollinger bands with coiling 5, 10 & 21 DMAs

  • Neutral setup, but primary downtrend holds while 1.1332 21 DMA caps

  • Longer term target remains a test of 1.1040, 76.4% of the 2020-2021 rise

  • NY 1.1266 low and European 1.1310 high are initial support, resistance

  • 1.1275 353 MLN and 1.1325/30 519MLN are Tuesday's close significant strikes

For more click on FXBUZ


eur Dec 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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