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Oct 29 - 08:55 PM

EUR/USD - Market Still Waiting For Fresh Directional Clues

By John Noonan  —  Oct 29 - 06:40 PM
  • EUR/USD trading 1.0560/65 after closing Friday unchanged at 1.0565

  • Choppy range trading continues as market looks for fresh catalysts

  • Resistance is at 55-day MA at 1.0673 while support is at 2023 low at 1.0448

  • Sellers are eyed between 1.060020 with buyers camped between 1.0520/30

  • Range trading may continue ahead of Fed decision on Wednesday

  • Key will be bond market moves as yield spreads driving EUR/USD direction

  • The 10-year US yields have been very choppy between 4.80% and 5.00%

  • A clear breaks of either levels likely to impact EUR/USD direction

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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