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Apr 04 - 08:55 PM

EUR/USD - Cautious Fed Comments Cap As The ECB Looks To June

By Andrew M Spencer  —  Apr 04 - 07:35 PM
  • Flat early - closed unchanged after retreating off 1.0876 in New York

  • Steady yield spreads - 10yr bund -5bp to 2.358%, 10yr UST -5bp to 4.309%

  • Minutes of the March ECB meeting showed increasing confidence in a June cut

  • The minutes contrast with more hawkish recent Fed comments, capping EUR/USD

  • Charts - daily momentum studies base/rise, 21-day Bollinger bands contract

  • 5, 10, and 21-day moving averages conflict - setup suggests consolidation

  • 1.0810 10-day moving average and 1.0876 NY high are first support resistance

  • 1.0800 1.395BLN and 1.0820 1.233BLN and 1.0850/60 802mln close strikes Apr 5

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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