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Feb 06 - 07:55 PM

EUR/USD - Opens Higher - Healthy Pause, The Trend Remains Lower

By Andrew M Spencer  —  Feb 06 - 06:30 PM
  • Steady after closing +0.1%, with the USD off 0.25%, as Treasury yields eased

  • Yield spreads tightened, 10yr bund -3bp to 2.298%, 10yr UST -7bp to 4.090%

  • German industrial orders jumped, led by aircraft - signs of a recovery?

  • Charts; daily momentum studies and 21-day Bollinger bands head lower

  • 5, 10 & 21-day moving averages slide - daily charts show a negative setup

  • Well tested support at 1.0712/23 - the Dec low and 61.8% of Oct/Dec rise

  • The close below 1.0700 would target 1.0611, 76.4% of the Oct/Dec climb a

  • A close above resilient 1.0862 falling 21-DMA would end the downside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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