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Aug 26 - 01:55 AM

EUR/USD - Consolidates Around 0.9970 Ahead Of Powell Speech

By John Noonan  —  Aug 25 - 11:50 PM
  • EUR/USD opened 0.9972 after failing at high at 1.0033

  • It only managed a 0.9962/78 range during a quiet Asian session

  • EUR/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • A close above the 10-day MA at 1.0046 would warn a bottom is forming

  • Support is at 0.9900/10 where option related buying is tipped

  • Market is on hold ahead of Powell speech at Jackson Hole later today

  • EUR/USD would get a boost if Powell not as hawkish as market expects nL4N2ZZ02M

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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