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Jun 14 - 02:55 AM

EUR/USD - Remains Heavy, Capped By Political Uncertainty

By Andrew M Spencer  —  Jun 13 - 11:50 PM
  • Steady in a 1.0636-1.0645 range supported by EUR/GBP +0.05% bargain hunting

  • Asian stocks/risk are softer with Treasury yields firmer 10yr +2bp 4.263%

  • Political uncertainty in Europe, led by France, continues to cap the Euro

  • Charts - momentum studies slide, as 5, 10, & 21-day moving averages fall

  • 21-day Bollinger bands expand - daily signals maintain a negative setup

  • Thursday's 1.0816 high then this week's 1.0852 top are the first resistance

  • 1.0719/21 0618% of the April/June rise and this week's 1.0719 base supports

  • A close below 1.0700 would be a strong bearish signal for next week

  • 1.0700 987mln and 1.0750 854mln are the close strikes for June 14

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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