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Below 200-DMA For First Time Since November

EUR

EUR/USD has slipped below its 200-DMA for the first time since November and has broken support at €1.0803 (low from Aug 23). The pair last prints at €1.10795/1.0800

  • The move lower came alongside comments from ECB's Nagel who noted he is yet to make his mind up about the September ECB monetary policy decision. More here. E-minis retreating from session highs have also seen the USD gain across the board.
  • Technically EUR/USD is bearish, support now comes in at €1.0788, 1.0% 10-DMA envelope, €1.0767, bull channel base drawn from Mar 15 low, and €1.0733, low from Jun 12. Resistance is at €1.0933, the 20-Day EMA.

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