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Oct 20 - 11:55 PM

EUR/USD - Offered Tone As Cable Weakness Underpins USD

By John Noonan  —  Oct 20 - 11:15 PM
  • EUR/USD opened +0.15% at 0.9787 after a whippy US session

  • It slipped down to 0.9765 when GBP/USD led USD higher in early Asia

  • E-minis fell over 0.40% at the open to add to the USD bid tone

  • FX market went quiet late morning and EUR/USD edged back up to 0.9780

  • EUR/USD has some support at 0.9765/70 where the 10 & 21-day MAs converge

  • Bids are tipped around 0.9700 with more support at the Oct 13 low at 0.9632

  • Key resistance is at a down-trend line that descends to 0.9959 today

  • EUR/USD vulnerable while that trend-line contains rallies

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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