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May 07 - 11:55 PM

EUR/USD - Drifts Lower, As The USD Finds Broad Support In Asia

By Andrew M Spencer  —  May 07 - 10:35 PM
  • Off 0.15% as USD/JPY +0.3%, AUD -0.4% leads the USD higher -EUR/JPY up 0.15%

  • BOJ's Ueda signals chance of policy action if yen moves affect inflation

  • USD gaining broad support from Fed expecting yields to be higher for longer

  • ECB to cut rates in June, ECBWATCH prices another in September or October

  • Central banks will be data-driven, but sentiment and yields support the USD

  • Charts - 5, 10, and 21 DMAs and momentum studies conflict - no strong bias

  • 1.0888 upper 21-day Bolli band and last week's 1.0812 high key resistance

  • Friday's 1.0724 base and then Thursday's 1.0675 low are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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