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Jan 09 - 08:55 PM

EUR/USD - Holds Above Key Support, Awaiting A Fresh Driver

By Andrew M Spencer  —  Jan 09 - 07:00 PM
  • Steady after closing down 0.2% as the U.S. Dollar bounced against the majors

  • Soft despite tighter spreads, 10yr bund +6bp 2.187%, 10yr UST +1bp 4.015%

  • Significantly weaker German industrial production fuelled recession fears

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

  • 21-day Bollinger bands contract - signals show no strong bias

  • 1.0875, 38.2% of the Oct/Dec rise is key support, break targets 1.0793 50%

  • 1.0951 NY high then 1.0970 10-day moving average are initial resistance

  • 1.0915/25 1.8BLN, 1.0970 1.07BLN and 1.0985 3.56BLN close Jan 10th strikes

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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