- 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)
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