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Aug 22 - 04:55 AM

EUR/USD - Set To Sink As Gas Price Soar

By Jeremy Boulton  —  Aug 22 - 03:55 AM
  • Price of LNG rockets to a record high nL1N2ZY0A2

  • Aug 22 EUR/USD 1.0050-11 EBS range, 2022 low 0.9952

  • Pair is pushing oversold levels below base 20-day BB at 1.0033

  • Base 20-week Bollinger bands at 0.9925 allows for a deeper drop

  • Targets below 2022 low: 0.9780, 0.9598 and 0.9415

  • Eurozone central banks may provide support ahead Sep 8 ECB meet

  • Weakness of euro is mitigating impact of ECB hikes


Source:
Refinitiv IFR Research/Market Commentary

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