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Jun 16 - 09:55 PM

EUR/USD - Dragged Around By The USD - Range Remains Viable

By Andrew M Spencer  —  Jun 16 - 08:00 PM
  • Flat after falling 0.5%, USD led, as choppy consolidation extends

  • Merkel doesn't expect decision on future EU finances until July nS8N2D905N

  • Charts; momentum studies flat line; 5, 10 & 21 DMAs conflict, neutral setup

  • 1.1157/66 38.2% April-June rise and 21 DMA is major support & range base

  • 1.1422 June high is initial significant resistance, and likely range top

  • Unless there is game changing news, trading the range seems viable this week

  • 1.1300 453M strikes then 1.1353 early London top first resistance

  • Earlier 1.1254 low, then NY 1.1228 base are initial support



eur jun 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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