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Sep 11 - 10:55 PM

EUR/USD - Bid, Looking For A Test Of Key 1.0172/76 Resistance

By Andrew M Spencer  —  Sep 11 - 08:40 PM

  • Sharp early spike to 1.0130, but remains bid, up 0.2% from 1.0046 NY close

  • Positive knee jerk reaction to Ukrainian forces weekend success nL1N30I0GK

  • Attention swings to the Russian response to events in Ukraine nL8N30I051

  • Charts; 5, 10 & 21 daily moving averages conflict - momentum studies climb

  • 21 day Bollinger bands contract - no strong bias - consolidation phase

  • Close above 1.0017 21 day moving average was a positive signal

  • Targets a test of 101.72-76 upper 21 day Bolli band and 61.8% Aug-Sep fall

  • 1.0050 472mln 1.0070/80 681mln and 1.0100 759mln close strikes on Monday

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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