By Andrew M Spencer — Nov 06 - 06:35 PM
Steady after tumbling 1.8% with the USD up 1.7% with surging UST yields
Yield spreads jumped, 10yr bund -4bp 2.393%, 10yr UST +15bp to 4.435% TWEB
Germany faces a snap election as Scholz's ruling coalition crumbles
Charts - negative daily momentum studies, 21-day Bollinger bands slip
5, 10 & 21-day moving averages edge lower, signals display a bearish setup
1.0820/44 5, 10 & 21 DMAs then this week's 1.0937 high are first resistance
Wednesday's 1.0682 low then 1.0666 June base are the initial support
1.0725 1.100 BLN strikes may act as a magnet in ASia
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary