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Aug 24 - 08:55 PM

EUR/USD - Familiar Levels, But Charts Suggest A 1.1700 Test

By Andrew M Spencer  —  Aug 24 - 07:15 PM
  • Flat after closing off 0.1% with an inside day, as the USD firmed in NY

  • EU cuts most summer crop yield forecasts due to dry weather nP6N2DN016

  • 1.1770 116M, 1.1800 607M, 1.1825 266M and 1.1850 1BLN are the close strikes

  • Techs; 5, 10 & 21 DMAs coil, momentum studies edge lower - neutral setup

  • Upper 21 day Bolli capped last week - now key resistance at 1.1913

  • 1.1810 21 DMA break is a negative signal, targets 1.1707 lower 21 day Bolli

  • Last week's topside failure targets a 1.1695 test - August range base low

  • NY 1.1784-1.1849 range is initial support-resistance

For more click on FXBUZ























eur aug 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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