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Jun 30 - 09:55 PM

EUR/USD - Poised Above Vulnerable Key Support - USD Resilient

By Andrew M Spencer  —  Jun 30 - 09:02 PM

  • A touch softer after closing -0.3% on broad based quarter end USD strength

  • France delays unwinding COVID restrictions on 4th wave concerns nL5N2OC3JN

  • Delta variant changes the odds in the race between vaccination and infection

  • Charts; 21 day Bollinger bands, 5, 10 & 21 daily moving averages fall

  • Bearish trending setup - 1.1837, 76.4% March-May rise, and June base in view

  • Close above the 1.1999 200 DMA needed to undermine the downside bias

  • Sustained 1.1835 break would open the door to the 1.1704 March low

  • 1.1845 NY low and 1.1909 Asian high Wednesday initial support, resistance

    For more click on FXBUZ


eur jul 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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