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May 20 - 08:55 PM

EUR/USD - Higher - Tests Key Resistance As Sentiment Builds

By Andrew Spencer  —  May 20 - 07:58 PM

• Steady after closing up 0.35% with the U.S. dollar off 0.4%

• EU, Britain go ahead with new Russia sanctions without waiting for Trump

• EU budget must adapt to geopolitical, climate, tech changes - von der Leyen

• Charts- 21-day Bollinger bands contract, 10 & 21-day moving averages slip

• Daily momentum studies base/rise - daily charts show no strong bias

• Friday's 1.1131 low, then 1.1053 0.618% Mar/Apr rise are initial supports

• Under pressure, 1.1284 21 DMA and the 1.1380 May 6 top first resistance

• A close above the often pivotal 1.1284 21-DMA would be a bullish signal

• 1.1250 2.026BLN, 1.1265/70 1.746BLN, 1.1300/05 1.786BLN close May 21 strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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