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Oct 12 - 01:55 AM

EUR/USD - Consolidates Slightly Lower After Friday's Gain

By John Noonan  —  Oct 11 - 11:20 PM
  • EUR/USD gapped to 1.1796 when Asia opened after closing 1.1831 Friday

  • Move lower a reaction to PBOC moves and uncertainty on US aid package nL4N2H1080nL1N2H206L

  • Buyers under 1.1800 underpinned and it is around 1.1815 into the afternoon

  • Risk mood negative at the start of session, but 2% rise in SSEC lifted mood

  • E-Minis were more than 0.20% down early, but is slightly positive now

  • EUR/USD may struggle as rise in COVID cases impact growth nL8N2H20BQ

  • EUR/USD support around 1.1760 where a0 & 21-day MAs converge

  • Resistance at the 61.8 of the 1.2014/1.1612 move at 1.1860

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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