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Jul 17 - 12:12 PM
EUR/USD - Bull-Friendly Data Gives Little Relief To Longs
First appeared on eFXplus on Jul 17 - 08:55 AM
  • EZ June HICP revised up nL8N24I25N, US housing data below f/c nLNSHIEF7B
  • Data combination fails to inspire bulls, pair slips from day's 1.1222 high
  • Broad US$ bid, wider DE-US spreads & US-Sino trade fears weigh upon EUR/USD
  • Daily cloud helps cap, RSIs slip lower, techs take on a bearish tint
  • 61.8% Fib of 1.0340-1.2556, June 18 & July 9 lows are key s-t support
  • Break those supports opens the door to a 1.1100/10 test
  • Bulls need above 1.1285/90 to regain some control

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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