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Oct 20 - 08:55 PM

EUR/USD - Modest Gain As Upward Momentum Is Glacial

By John Noonan  —  Oct 20 - 07:12 PM
  • EUR/USD opens 0.15% higher after failing to match Tuesday's high at 1.1670

  • USD broadly weakened but most of the losses were against risk currencies

  • Resistance is at the 38.2 of the 1.1909/1.1522 move at 1.1670

  • This level needs to break soon or sideways trading will return

  • Break above 1.1670 targets 1.1615 where the 55-day MA & 50% retrace converge

  • Support is at the 21-day MA at 1.1615 and the 10-day MA at 1.1599

  • A break below 1.1595 would suggest a short-term top is in place

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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