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Mar 07 - 07:55 PM

EUR/USD - Higher As The USD Slides, As Central Banks Eye Cuts

By Andrew M Spencer  —  Mar 07 - 06:05 PM
  • Steady after closing up 0.5%, supported by broad dovish Fed-led USD weakness

  • The ECB is also looking at cuts - probably in June after the Q1 wage data

  • Yield spreads widened, 10yr bund -4bp 2.295%, 10yr UST -2bp 4.088%

  • Likely quiet in Asia ahead of the often volatile US employment data

  • Charts - momentum studies, 5, 10 & 21-day moving averages edge higher

  • 21-day Bollinger bands expand - signals show a strong positive bias

  • Targets a test of 1.0971, 61.8% of the December-February fall

  • The 1.0822 21-day moving average is the pivotal support

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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