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Jun 24 - 08:55 PM

EUR/USD - Retreats To Middle Of Range As Risk Assets Fall

By John Noonan  —  Jun 24 - 06:35 PM
  • EUR/USD opens 0.52% lower and near the middle of resent 1.1165/1.1350 range

  • Rising pandemic second wave fears weighing on risk and supporting USD nL1N2E12HZ

  • It is settling around 1.1250, which is where the 10 & 21-day MAs converge

  • A break below 1.1230 targets the double-bottom at 1.1168

  • Hourly resistance formed @ 1.1280//85 and break would ease downward pressure










Source:
Refinitiv IFR Research/Market Commentary

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