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Aug 19 - 08:55 PM

EUR/USD - Trends Toward 1.1600 Support, As USD Powers Higher

By Andrew M Spencer  —  Aug 19 - 07:24 PM

  • Steady after closing -0.25% - Delta variant spurs safe haven USD strength

  • German SPD make gains, conservatives, Greens fall pre election nL8N2PQ4YC

  • Charts; 5, 10 & 21 daily moving averages ease, 21 day Bolli bands expand

  • Negative technical trending setup - downside bias while 1.1781 21 DMA caps

  • Targets a test of 1.1602 September and November 2020 range base

  • 1.1675 588 mln strikes may be a magnet in Asia - 1.1700 988 mln cap

  • 1.1652 lower 21 day Bollinger band, a base on this move supports

  • 1.1700 strikes then 1.1704 NY high are initial resistance

    For more click on FXBUZ


eur aug 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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