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FxWirePro: Strong support for EUR/USD at 1.090, breaks below could take the pair to 1.080

  • EUR/USD is currently trading at 1.0928, with immediate resistance at 1.1006 (10 DMA) and support at 1.0897 (30 DMA Lower Bollinger)

  • Markit PMI surveys data released earlier pointed to quarterly EZ economic growth of around 0.4 percent, in line with the forecasts

  • EZ business growth remained tepid last month, with ECB's massive stimulus programme having little apparent impact on economic activity or price pressures

  • Stronger European stocks and rising odds of Dec Fed rate hike pose a double whammy for the shared currency

  • 10 DMA at 1.1006, & tenkan line at 1.1018, help keep bear pressure on, further  weakness on charts, pair could target 1.0810

Resistance Levels:

R1: 1.1006 (10 DMA)

R2: 1.1018 (Tenkan-Sen)

R3: 1.1073 (Daily High Oct 30)

Support Levels:

S1: 1.090 (Trendline support)

S2: 1.0897 (30 DMA Lower Bollinger)

S3: 1.0855 (Daily Low Aug 7)

  • Market Data
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