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DXY hovers at session low


Portugal/Bund spread test the March low

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Attention Is On The 50-Day EMA

  • RES 4: 0.9292 High Sep 11 2020
  • RES 3: 0.9066/9266 High Sep 28 / High Sep 26 and key resistance
  • RES 2: 0.8980 High Sep 29
  • RES 1: 0.8867 High Oct 12
  • PRICE: 0.8739 @ 19:34 BST Oct 12
  • SUP 1: 0.8676/49 50-day EMA / Low Oct 4 and a key support zone
  • SUP 2: 0.8626 Low Sep 1
  • SUP 3: 0.8559 76.4% retracement of the Aug 2 - Sep 26 rally
  • SUP 4: 0.8522 Low Aug 30

EURGBP faced stiff resistance Wednesday and reversed Tuesday’s gains. The cross remains above the 50-day EMA - the average intersects at 0.8676 and is a key support. This level, together with 0.8649, the Oct 4 low, defines an important short-term support zone where a break is required to reinstate recent bearish price action. On the upside, resistance is at 0.8867, the Oct 12 high. A break would resume the recent recovery.

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