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Aug 11 - 01:55 PM

EUR/USD - Rally Sellers Lean On Key Impediments That Should Break

By Christopher Romano  —  Aug 11 - 12:15 PM
  • EUR/USD dipped to test old resistance turned into support, 1.0276 hit on EBS

  • Pair bounced on influences from risk-on sentiment, drop in US$ & US rates

  • Pair hit 1.0346, the lift stalled short of the August 10 daily high

  • Lift halted near the 50% Fib retracement of 1.0787-0.9952 & the 55-DMA

  • Rising daily, monthly RSIs imply upside momentum in place, rally to resume

  • Some consolidation of recent gains may be needed before new highs are set

  • Break above the 1.0370 area targets 1.0450/90 and possibly 1.0605/15

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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