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Jan 30 - 08:55 PM

EUR/USD - Tighter Yield Spreads Support, Charts Point Lower

By Andrew M Spencer  —  Jan 30 - 06:45 PM
  • Steady after closing up 0.1% with the U.S. dollar a touch softer

  • Tighter yield spreads, 10yr bund +4bp 2.273%, 10yr UST -6bp 4.036%

  • German recession looks likely for Q1 2024 after a slump in Q4 2023

  • Month end ahead of the FOMC suggests a tight trading range in Asia

  • Charts; neutral daily momentum studies, 21-day Bollinger bands ease

  • 5, 10 & 21-day moving averages slide - daily charts show a negative setup

  • The first significant support is 1.0793 50% of the October/December rise

  • 1.0812 early Europe low and 1.0858 New York high initial support, resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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