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Mar 04 - 08:55 PM

EUR/USD - Key Support Under Pressure, As USD Strength Weighs

By Andrew M Spencer  —  Mar 04 - 07:43 PM
  • Touch softer after opening off 0.75% on broad based USD strength

  • Fed's Powell more dovish than the market - U.S. payrolls pivotal tonight

  • Payrolls forecast +165K - strong number would see USD & UST yields rise

  • Techs; dip leaves momentum studies, 5, 10 & 21 daily moving averages easing

  • Rising lower 21 day Bolli band is a good indicator of an oversold market

  • Bolli today at 1.1979 suggests bears should sell strength not weakness

  • 1.1952 2021 low major support - break to target 1.1887, 61.8% Nov-Jan rise

  • 1.1976 Asian high today and 1.2054 NY high initial resistance


    For more click on FXBUZ

eur mar 5 Click here

Source:
Refinitiv IFR Research/Market Commentary

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