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Feb 02 - 11:55 PM

EUR/USD - Consolidates Around 1.2045 In Quiet Asian Session

By John Noonan  —  Feb 02 - 10:09 PM
  • EUR/USD opened 0.12% lower at 1.2044 after late bounce from 1.2011

  • Report Draghi will be asked to form government in Italy helped the bounce nL1N2K8274

  • Talk of option related buying ahead of 1.2000 barrier also underpinned

  • EUR/USD traded in a 1.2037/50 and was around 1.2045 nto the afternoon

  • A break below 1.2000 targets 50% retracement of 1.1602/1.2349 move at 1.1975

  • Resistance is at former support at 1.2055/60 and 10-day MA at 1.2116

  • Bias is for lower as 5, 10 and 21-day MAs in bearish alignment

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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