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Oct 12 - 10:55 PM

EUR/USD - Yield Spreads Narrowed, But Charts Target 0.9528

By Andrew M Spencer  —  Oct 12 - 08:35 PM

  • Steady after closing little changed, supported by strong EZ IP nL1N31D0QM

  • ECB's Ladarde believes interest rates are the best tool to fight inflation

  • Dutch CB chief Knot, 2 more 75bp hikes needed to reach neutral nL1N31D1BC

  • Yields spreads EUR positive, 10yr Bund +4bp 2.346%, 10yr UST -4bp 3.905%

  • Charts; momentum studies flat line, 5, 10 & 21 day moving averages ease

  • 21 day Bollinger bands fall - weekly and monthly charts trend lower

  • Bearish setup targets another test of the 0.9528 September trend low

  • NY 0.9668-0.9720 range is initial support and resistance

  • 0.9695/00 550 mln are the only close strikes on Thursday

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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