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Apr 10 - 10:55 PM

EUR/USD - Uptrend Stalled On Fed Expectations - 1.0813 Pivotal

By Andrew M Spencer  —  Apr 10 - 08:40 PM

  • +0.1% in Asia after closing down 0.35% amid broad based USD strength

  • CME FedWatch expectations of a Fed May 3 25pt hike at 69.9% from 57.2% Apr 3

  • ECB's Pablo Hernandez de Cos - high core inflation - further hikes viable

  • Charts; 21 day Bollinger bands climb, momentum studies crest or fall

  • 5, 10 & 21 day moving averages show mixed signals - a net bullish setup

  • Targets a test of the 1.0973 April high, then the 1.1034 2023 high

  • Close below the 1.0813 21 day moving average would be a bearish signal

  • NY 1.0831 low and European 1.0917 high are initial support and resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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