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Oct 15 - 09:55 PM

EUR/USD - Soft - Second Wave And Brexit Showdown Hit Sentiment

By Andrew M Spencer  —  Oct 15 - 08:05 PM
  • Flat after closing -0.3%, as covid growth hits risk appetite nL8N2H62FT

  • EU economy would be hit hard by failure to deal with a second wave

  • Frost - Johnson to set out UK's Brexit approach on Friday nL8N2H667E

  • If Johnson fails to compromise on key issues, a hard Brexit beckons

  • Charts; 5, 10 & 21 DMAs and momentum studies show negative signals

  • First significant support comes in at 1.1664, 76.4% Sep/Oct bounce

  • Close above 1.1759 10 DMA would end the downside bias

  • 1.1688 NY low and 1.1750 423M strikes are initial support-resistance

  • For more click on FXBUZ

eur oct 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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