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May 16 - 01:55 AM

EUR/USD - Fresh Trend High In Upbeat Asia, As UST Yields Slip

By Andrew M Spencer  —  May 16 - 12:00 AM
  • Steady in a 1.0880-1.0895 range, recording a fresh trend high

  • Treasury yields continued to fall in Asia - 10yr UST down 4bp to 4.316%

  • Risk 'on' - commodities are firmer, regional stocks and E-minis climb

  • No tier-one Eurozone data today - yield spreads and the USD to lead EUR/USD

  • Charts - momentum studies, 5, 10, and 21-day moving averages climb

  • 21-day Bollinger bands expand - daily charts maintain the positive setup

  • Targets 1.0898 0.786% of the March/April fall, then the 1.0980 March high

  • New York's 1.0822 low, then the 1.0797 10 DMA are initial supports

  • 1.0875 1.673 BLN and 1.0900 1.566 BLN close major strikes for May 16th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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