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Nov 14 - 11:55 PM

EUR/USD - Outlook, Charts Weigh - Strong Support At 1.0400/50

By Andrew M Spencer  —  Nov 14 - 09:50 PM
  • +0.05% in a 1.0523-1.0542 range, as UST yields firmed and E-minis eased

  • There is no tier-one Eurozone data, so US retail sales lead event risk

  • Fed Chair Powell is cautious on rate cuts - the ECB is more confident

  • Diverging interest rates, and Trump tariffs to cap EUR/USD in coming weeks

  • Charts - daily momentum studies slip as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages fall, signals show a bearish trending setup

  • Thursday's 1.0583 high and then Tuesday's 1.0663 top are initial resistance

  • The 1.0448 2023 base, then 1.0402, 0.500% 2022/23 rise should be resilient

  • 1.0500 3.210 BLN and 1.0550 990mln are the close strikes for Nov 15th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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