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Aug 20 - 01:55 AM

EUR/USD - Eases In Asia, But Signals Remain Constructive

By Andrew M Spencer  —  Aug 19 - 11:40 PM
  • Off 0.1% at the base of a 1.1075-1.1087 range with the USD up 0.1%

  • USD/JPY leads the USD in Asia, trading up 0.25% with 10yr UST +1bp to 3.876%

  • German PPI and Final Eurozone CPI lead today's data - unlikely to impact

  • Charts; daily momentum studies climb, 21-day Bollinger bands expand

  • 5, 10 & 21-day & week moving averages rise - signals remain supportive

  • Monday's 1.1012 low and then the 1.0986 10-DMA is the key support

  • the likely resilient 1.1139 December 2023 top is the initial target

  • 1.1095 753mln and 1.1100 1.172BLN are the close strikes for August 20th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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