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Apr 27 - 10:55 PM

EUR/USD - Uptrend Resilient Into Busy Month-End Data Releases

By Andrew M Spencer  —  Apr 27 - 08:40 PM
  • +0.05% after closing 0.1% lower ahead of a slew of month-end European data

  • Yields climbed, spreads wider - 10yr bund +7bp 2.454%, 10yr UST +9bp 3.528%

  • U.S. debt default chances are increasing - a potential nightmare for markets

  • Charts; 21-day Bollinger bands head north, momentum studies conflict

  • 5, 10 & 21-day moving averages edge higher - a positive trending setup

  • Targets a test of 1.1185 April 2022 top, then 1.1271, 61.8% 2021-2022 fall

  • Close below the 1.0960 rising 21-day moving average would end topside bias

  • 1.1000 3.177 BLN and 1.1040/50 1.3 BLN strikes likely to contain in Asia

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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