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Oct 21 - 08:55 PM

EUR/USD - Key Support Around 1.0780 In View, As The USD Climbs

By Andrew M Spencer  —  Oct 21 - 07:35 PM
  • Steady after closing down 0.5% with the USD up 0.5% as UST yields jumped

  • Yield spreads widened, 10yr bund +9bp 2.279%, 10yr UST +12bp 4.196%

  • ECB's Kazimir is increasingly confident that inflation will return to target

  • Charts - daily momentum studies ease, 21-day Bollinger bands fall

  • 5, 10 & 21-day moving averages track lower, signals retain a bearish setup

  • Monday's 1.0871 high, then the 1.0897 10 DMA are initial resistance

  • 1.0783, 78.6% of the Jun/Sep rise and 1.0777 August low are major supports

  • 1.0800 557 mln and 1.0850 2.136 bln are the close strikes for Oct 22

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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