Tue, Mar 21, 2023 @ 01:12 GMT
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Technical Outlook: EURUSD – 100SMA Is Holding But Bias Remains Bearish, US NFP Data In Focus

The Euro is still holding above strong 100SMA support (1.0622) but bias is bearish after yesterday’s eventual close below 1.0650 (Fibo 61.8% of 1.0493/1.0905 ascend) that generated bearish signal.

The pair is trading within narrow range in early Friday (1.0636/58) ahead of US NFP data (176K f/c vs 235K in Feb) which is expected to signal fresh direction.

Near-term studies are firmly bearish, while dailies give mixed signals.

Pivotal generated bearish signal. points lay at 1.0622/11 (100SMA/daily cloud top) at the downside and 1.0700 (daily Kijun-sen) at the upside and sustained break on either side will give firmer direction signals.

Res: 1.0658, 1.0687, 1.0700, 1.0733
Sup: 1.0627, 1.0622, 1.0611, 1.0583

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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