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Dec 13 - 02:55 AM

EUR/USD - Downside Risk Increasing As Positive Momentum Fades

By Peter Stoneham  —  Dec 13 - 02:10 AM
  • Losing direction as ranges tighten and price pans out sideways

  • Support in the form of the 10DMA just defining a shallow bull bias, 1.0512

  • However, 14-day positive momentum is fading: RSI is flat at o/b levels

  • To the downside a minimum correction off 0.9730-1.0595 is at 1.0391

  • The 200DMA just below at 1.0350

  • We prefer to wait for stronger signals

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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