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EUR/USD languished in a tight range with topside capped at 1.1900. Economists at Société Générale see the pair struggling to build upside momentum.
See – EUR/USD needs to regain the 1.2010/15 area to reassert upside potential – Commerzbank
Upbeat comments by Fed Vice-Chair Richard Clarida
“Profit taking emerged as UST/Bund spreads widened following Clarida’s hawkish remarks. ECB member Kazaks was dovish, stating that September is too soon to update PEPP guidance.”
“EUR/USD has bounced after testing projections at 1.1750/1.1745 however upside momentum doesn’t seem to build up as the pair maintains below short-term Moving Averages.”
“Failure to cross 1.1900 can result in resumption of down move towards March low of 1.1700.”
This article was originally published by Fxstreet.com. Read the original article here.