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Nov 27 - 03:55 PM

EUR/USD - On Pace For Best Day In Nearly Four Months

By Robert Fullem  —  Nov 27 - 01:40 PM
  • EUR/USD is on pace for its best day since Aug. 2 amid short-covering, month-end flows and lower Treasury yields

  • Euro's advance comes amid weakness in US tech shares and a jump in bitcoin

  • EUR/JPY's drop and bearish sentiment amid French political turmoil and Ukraine developments help to limit gains

  • Solid resistance is at the 1.0601 April 16 low, last week's 1.0610 top and the 21-DMA at 1.0643

  • Nearby support is seen at the prior pivot level of 1.05

  • Data Thursday incudes Nov. German CPI and Euro zone economic sentiment

  • President-elect Trump taps retired lieutenant general Keith Kellogg to serve as a special envoy for Ukraine conflict

Pair needs to hold day's low of 1.0475 to keep momentum positive




For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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