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Dec 17 - 08:55 PM

EUR/USD - Weak Euro Offshore - Strikes Likely To Contain In Asia

By Andrew M Spencer  —  Dec 17 - 06:40 PM
  • Steady after closing down 0.2%, with the U.S. dollar 0.15% firmer

  • EUR fell on the major crosses EUR/JPY -0.65%, and EUR/GBP -0.4%

  • German business sentiment tumbled in December amid 'chronic' weakness

  • Expecting a tight trading range in Asia ahead of tonight's FOMC

  • Charts - daily momentum studies conflict, 21-day Bollinger bands contract

  • Neutral 5, 10 & 21-DMAs, weekly moving averages fall - no strong bias

  • 1.0668 0.382% of the September/November fall remains pivotal resistance

  • The 1.0595 upper 21-day Bolli, and December 1.0630 top are first resistance

  • Friday's 1.0453 base and then the November 1.0331 low are initial support

  • 1.0490 628mln and 1.0500 1.665 BLN close strikes for Dec 18th

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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