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Aug 13 - 06:55 AM

EUR/USD - Drifts Higher As Some Pare Shorts Ahead Weekend

By Jeremy Boulton  —  Aug 13 - 06:22 AM
  • EUR/USD 1.1730-51 EBS in Europe, 1.1730-42 rage in Asia and 1.1724 low NY

  • Profit taking sets in after failure to break below 1.1700

  • Lows coming close to base 20-day Bollinger bands at 1.1697

  • The minimum objective for a tech correction of 2020-2021 rise is 1.1695

  • Strong resistance likely ahead 21-DMA at 1.1799

  • EUR 665 mln expiries at 1.1750-60 may cap in short-term

  • Eurozone trade surplus EUR 12.4bln in June from May's 9.4bln



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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