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Aug 11 - 10:55 PM

EUR/USD - Strong Support, Strikes Near 1.1700, But Signals Slide

By Andrew M Spencer  —  Aug 11 - 09:28 PM

  • Flat after closing up 0.17% with the softer USD as core U.S inflation missed

  • Charts; 5, 10 & 21 daily and weekly moving averages track lower

  • 21 day Bollinger bands expand - suggests major 1.1700 support is vulnerable

  • 1.1707 falling 21 day lower Bollinger band is resilient first support

  • 1.1704 March trend low and 2021 base - 1.1694 38.2% 2020-2021 rise below

  • Sustained break of 1.1690 would target 1.1602 November 2020 low

  • Downside bias while 1.1797-1.1802, 21 and 10 day moving averages hold

  • 1.1700/10 1.784BLN and 1.175/00 2.917BLN are today's close strikes

For more click on FXBUZ


eur aug 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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