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Sep 16 - 09:55 PM

EUR/USD - Supported By Fed Expectations - Large 1.1125 Strikes

By Andrew M Spencer  —  Sep 16 - 08:10 PM
  • Trades -0.05% after closing up 0.5% with the USD off 0.4%

  • USD weakened after yields fell on rising 50pt Fed cut expectations

  • ECB chief economist Philip Lane - data to determine the pace of cuts

  • Charts; daily momentum studies conflict, 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages edge higher - a modest positive setup

  • A close below 1.0996, 0.382% Jun/Aug rise would end the topside bias

  • The September 1.1155 top then the 1.1201 August high are first resistance

  • 1.1125 1.399 BLN strikes a likely magnet today in Asia

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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