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Oct 13 - 09:55 PM

EUR/USD - Bounce Leaves Neutral Signals, 1.1640 Key Resistance

By Andrew M Spencer  —  Oct 13 - 08:22 PM

  • Steady after closing up 0.55%, as USD longs were squeezed after US inflation

  • Rising German inflation = 'noticeable wage gains' union chief nL8N2R95BO

  • Increased prices are broad based - energy, food - ECB closely monitoring

  • Charts, 21 day Bolli bands contract, 5, 10 & 21 day moving averages conflict

  • Momentum studies base - bearish technical signals have turned neutral

  • Key levels are October 1.1522 trend low and 1.1640 21 DMA and Oct high

  • 1.1550/65 968M and 1.1595/00 1.753 BLN are Thursday's close strikes

  • 1.1536 NY low and 1.1640 October high and 21 DMA initial support resistance

For more click on FXBUZ


eur Oct 14 Click here

Source:
Refinitiv IFR Research/Market Commentary

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