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Feb 11 - 11:55 PM

EUR/USD - Bid To Start The Week With Most Of Asia On Holiday

By Andrew M Spencer  —  Feb 11 - 10:05 PM
  • Trades up 0.15%, at the top of a 1.0777-1.0799 range in Asia

  • Lunar New Year holidays resulted in light volumes with most centres closed

  • No significant EU data or scheduled speeches today - likely quiet in Europe

  • Charts; daily momentum studies conflict, 21-day Bollinger bands contract

  • 10 & 21-day moving averages slide - daily charts retain a negative bias

  • Well tested support at 1.0712/23 - the Dec low and 61.8% of Oct/Dec rise

  • Sustained 1.0700 break would target 1.0611, 76.4% of the Oct/Dec climb

  • A close above resilient 1.0837 falling 21-DMA would end the downside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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