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Nov 15 - 01:55 AM

EUR/USD - Holds On To Strong Gains In Quiet Asian Session

By John Noonan  —  Nov 14 - 10:20 PM
  • EUR/USD opened +1.69% after surging higher in wake of softer US CPI nL1N3CF2NJ

  • It opened at 1.0879 and drifted down t0 1.0866 early Asia on profit-taking

  • Dip was shallow and short-lived and it is above 1.0880 into the afternoon

  • Break above 200-day MA (1.0803) was bullish and that reading is now support

  • The next target is the 61.8 of the July-Oct fall at 1.0959

  • More support is at former resistance at 1.0755/65 where buying is tipped

  • US retail sales and US PPI later today are potential risks to EUR/USD rally

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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