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Nov 10 - 07:55 PM

EUR/USD - Soft Early - Strong USD And German Politics Weigh

By Andrew M Spencer  —  Nov 10 - 06:30 PM
  • -0.05% after closing down 0.8% with the U.S. dollar up 0.55%

  • Chancellor Olaf Scholz agreed to an earlier German confidence vote

  • Europe needs a functioning German government as soon as possible

  • Charts - negative daily momentum studies, 21-day Bollinger bands slip

  • 5, 10 & 21-day moving averages edge lower, signals retain a bearish setup

  • 1.0778/1.0826 5, 10 & 21 DMAs, then last week's 1.0937 high first resistance

  • Wednesday's 1.0682 base and 1.0666 June low are the initial support

  • 1.0700 1.220 BLN and 1.0780 1.164 BLN are the major close strikes for Nov 11

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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