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Refinitiv
Feb 25 - 08:55 PM

EUR/USD - Bounce Has Stalled - Looking For The Next Catalyst

By Andrew M Spencer  —  Feb 25 - 06:55 PM
  • Steady, giving back very early gains after closing unchanged in New York

  • Yield spreads little changed, 10yr bund -7bp 2.36% and 10yr UST -6bp 4.26%

  • Dovish ECB speakers behind the bund fall - profit taking in the U.S.

  • Charts; daily momentum studies conflict, 21-day Bollinger bands contract

  • Mixed 5, 10 & 21-day moving averages - signals show no significant bias

  • Last week's 1.0889 high then 1.0917, 50% of Dec/Feb fall first resistance

  • Thursday's 1.0803 base and then last week's 1.0762 low are initial supports

  • Fundamentals make it hard to justify a sustained EUR/USD move higher

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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