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Jul 30 - 07:55 AM

EUR/USD - Upbeat EZ Data, But EUR/USD Lacks Topside Impetus

By Richard Pace  —  Jul 30 - 05:47 AM
  • Q2 preliminary GDP data beat fuels economic recovery hopes nL8N2P63NF

  • Provides additional support to EUR/USD amid weak post Fed USD backdrop

  • EUR/USD tests 30 June high 1.1909, next up are 29-28 June highs 1.1929-44

  • Thurs break/close above 23.6% of 1.2266-1.1752 can target 38.2% 1.1948

  • However, market still lacks conviction and month end flows cloud picture

  • 2-billion 1.1900-20 option expiry resistance, more below nL1N2P60CU

  • Option risk reversals regain topside vol premium, but still tiny @ 0.05




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Source:
Refinitiv IFR Research/Market Commentary

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