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May 25 - 02:36 AM

EUR/USD - Strikes Strangle, As The EU Fiscal Divide Remains

By Andrew M Spencer  —  May 24 - 08:30 PM
  • Touch firmer than 1.0904 NY close after touching 1.0890 early

  • USD a touch softer with E-Mini S&P +0.4% on coronavirus vaccine optimism

  • EU 'frugals' oppose Merkel-Macron plan for coronavirus grants nL8N2D5064

  • Eurogroup's Centeno, recovery fund step towards EU fiscal union nL8N2D50AG

  • EU divisions on fiscal matters remain deep, but a compromise must be found

  • Charts; upper 21 day Bolli bands capped on close last week - 1.0990 today

  • EUR back at familiar levels, 1.0858 61.8% May bounce is initial support

  • 1.0875-85 550M, 1.0895-1.0900 800M, 1.0910-20 1BLN, 1.0930-45 480M strikes

eur may 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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