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Feb 10 - 01:55 AM

EUR/USD - Softer As The Negative Technical Outlook Builds

By Andrew M Spencer  —  Feb 09 - 10:20 PM

  • -0.15%, at the base of a 1.0723-1.0742 range - USD firmed in the afternoon

  • EU economic forecasts and U.S. consumer sentiment lead event risk offshore

  • Euro to remain sensitive to EZ-US inflation outlook and yields spreads

  • Charts; momentum studies conflict, 21 day Bollinger bands expand

  • 5, 10 & 21 day moving averages edge lower - negative signals

  • 1.0685 lower 21 day Bollinger band is key support - closed above for 4 days

  • Sustained 1.0685 break would open the door to the 1.0482 2023 base

  • 1.0791 NY high then 1.0829 21 day moving average first resistance

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Source:
Refinitiv IFR Research/Market Commentary

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