By Andrew M Spencer — Sep 24 - 07:55 PM
+0.1% early after closing up 0.65% with the U.S. dollar 0.6% lower
EUR supported by broad base risk 'on' USD weakness on the China stimulus
German institutes expect the economy to contract in 2024 - likely caps EUR
Charts - Tuesday's bounce leaves the key 1.1200 range top in view
Neutral daily momentum studies, with horizontal 21-day Bollinger bands
5, 10 & 21-day moving averages flat-line or edge higher - no strong bias
Last week's 1.1189 high, then the August 1.1201 top are pivotal resistance
This week's 1.1084 low, then the 1.1068 base last week are initial supports
1.1160/65 911mln and 1.1200 1.121BLN are the close strikes for Sept 25th
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary