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May 29 - 01:55 AM

EUR/USD - Under Pressure As The USD Firms, Stocks Slip In Asia

By Andrew M Spencer  —  May 28 - 11:35 PM
  • Off 0.1% at the base of a 1.0846-1.0862 range with the U.S. dollar up 0.1%

  • Modest risk-off, with regional stocks, and e-minis lower, UST yields firmer

  • German inflation and consumer sentiment will gauge it's economic health

  • Charts - momentum studies flat-line, as 21-day Bollinger bands contract

  • Mixed 5, 10, & 21-day moving averages - signals show a neutral setup

  • A close below the 1.0810 21-day moving average would be a bearish signal

  • 1.0810 21-DMA and Tuesday's 1.0889 top are initial support/resistance

  • 1.0835/40 1.518 BLN and 1.0875/80 2.327 BLN close strikes for May 29th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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