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9 Sep 2013
Flash: EUR/USD MA’s converging around 1.3140-90 - Westpac
FXstreet.com (Barcelona) - The Westpac Global Strategy Team note that EUR/USD 55, 100 and 200 day moving averages have converged in the 1.3140-90 range, with the runup to 1.34 an increasingly distant memory.
Key Quotes
“ECB president Draghi’s mood last week was gloomier than expected, adding to our bias to sell into the 1.32-1.33 region.”
“However, US data has been too soft to inspire much fresh USD buying, leaving 1.3100 intact for now.”
Key Quotes
“ECB president Draghi’s mood last week was gloomier than expected, adding to our bias to sell into the 1.32-1.33 region.”
“However, US data has been too soft to inspire much fresh USD buying, leaving 1.3100 intact for now.”