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Dec 07 - 07:55 PM

EUR/USD - Downtrend Hangs In As Yield Differentials Cap

By Andrew M Spencer  —  Dec 07 - 06:31 PM

  • Steady early after closing off 0.15%, as the downtrend remains in place

  • Omicron fears subside, as mix and match vaccines show promise nL4N2SS2TU

  • Overall the outlook for the Omicron variant remains uncertain nL4N2SS3RZ

  • EZ-U.S. yield differentials continue to widen - capping EUR/USD nL1N2SS1IJ

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

  • Neutral setup, but primary downtrend holds while 1.1316 21 DMA caps

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

  • NY 1.1228 low and European 1.1298 high are initial support, resistance

    For more click on FXBUZ


eur Dec 8 Click here

Source:
Refinitiv IFR Research/Market Commentary

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