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Feb 05 - 07:55 PM

EUR/USD - Trends Lower, Capped By Re-Priced Fed Expectations

By Andrew M Spencer  —  Feb 05 - 06:20 PM
  • Steady after closing -0.45% - USD +0.45% on Fed-led higher UST yields

  • Yield spreads widened, 10yr bund +9bp 2.316%, 10yr UST +13bp 4.162%

  • EZ economy shows tentative signs of recovery, capping ECB cut expectations

  • Charts; daily momentum studies head lower, 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages slide - daily charts show a negative setup

  • Major support at 1.0712/23 held, being the Dec low and 61.8% of Oct/Dec rise

  • The close below 1.0700 would target 1.0611, 76.4% of the Oct/Dec climb a

  • A close above the tested 1.0870 falling 21-DMA would end the downside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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