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Aug 04 - 08:55 PM

EUR/USD - Opens Firmer, Signals Support, 1.0300 Test Viable

By Andrew M Spencer  —  Aug 04 - 07:20 PM

  • Steady after closing up 0.8% with the broadly softer USD, as yields slipped

  • EUR/GBP +0.7%, after the dour BoE outlook amid the 50pt hike nL8N2ZG4J4

  • EZ also faces recession and high inflation, but less than UK nL8N2ZF6CK

  • 5, 10 & 21 day moving averages edge higher daily with momentum studies

  • 21 day Bollinger bands expand - setup shows a modest topside bias

  • 1.0294, August high and 1.0313 upper 21 day Bollinger band are the range top

  • This week's 1.0123 base and 1.0082 61.8% July-August rise initial supports

  • 1.0215/30 1.675 BLN and 1.0295/00 1.306 BLN are today's close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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