By Andrew M Spencer — May 23 - 08:45 PM
Steady after closing -0.4%, amid broad-based safe-haven USD demand
Little progress toward a U.S. debt ceiling compromise, to underpin the USD
Spreads tightened on USD demand, 10yr bund +2bp 2.471%, 10yr UST -2bp 3.697%
Charts; 21-day Bollinger bands expand, while momentum studies crest or fall
5, 10 & 21-DMAs track lower - remains a negative trending setup
1.0758 NY low, followed by 1.0736 61.8% of the 2023 rise are initial support
1.0795 NY high then 1.0826 10-day moving average are the first resistance
1.0750/60 1.331 BLN are the only close strikes for May 24th
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Source:
Refinitiv IFR Research/Market Commentary