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Aug 21 - 06:55 AM

EUR/USD - Key Fibo Halts EUR/USD Slide After Two Big Levels Break

By Jeremy Boulton  —  Aug 21 - 05:05 AM
  • EUR/USD drops to 1.1799 EBS, below 21-DMA/yesterday's low. Both 1.1803

  • 1.1799 is the 61.8% retracement of the rise from Aug's low

  • Long liquidation after poor PMIs fuels the decline nL1N2FN0A2

  • A close below 21-DMA would up pressure on those long

  • Pair above 21-DMA since Jul 10. 76.4% retrace Aug's rise is 1.1759

  • Profit taking will limit EUR/USD strength nL1N2FN09H




Likely EUR/USD supports Click here

Source:
Refinitiv IFR Research/Market Commentary

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