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Nov 04 - 03:55 PM

EUR/USD - Shorts Set Their Sights On Key Support

By Christopher Romano  —  Nov 04 - 01:47 PM
  • EUR/UD falls from the 1.16165 EBS high overnight, NY opens near 1.1545

  • Pair nears 1.1575 early but US$, yen buys & US data bring out sellers

  • Yen buying drives EUR/JPY down to a 131.02 low on EBS

  • Claims, labor costs data nL1N2RU3D2 give US rates, US$ a lift

  • US data likely has investors doubting Fed's transitory inflation claims

  • EUR/USD drops to 1.1528 on EBS, bounces slightly, is near 1.1545 late

  • Techs are bearish; RSIs sink, bear pennant base breaks, pair sub 10, 21-DMAs

  • ECB, US data reinforce EUR/USD downside risks into US jobs data nL1N2RV18J

  • For more click on FXBUZ


eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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