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Jul 08 - 09:55 PM

EUR/USD - Resistance Proves Resilient, As Range Holds

By Andrew M Spencer  —  Jul 08 - 08:20 PM
  • Touch firmer after closing up 0.5%, as the USD fell with risk firmer

  • EU secures potential COVID-19 drugs from Roche, Germany's Merck nL8N2EF2N8

  • Charts; momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • 21 day Bolli bands are a good indicator of an over stretched market

  • 1.1345 upper 21 day Bolli and 1.1353 mid June high - resilient yesterday

  • Sustained 1.1360 break would open the door to the 1.1422 June trend top

  • 1.1177 lower 21 Day Bolli and 1.1157, 38.2% April-June rise, is range base

  • 1.1290-1.1300 850M and 1.1375-85 1.1BLN are today's close strikes

For more click on FXBUZ


eur 2 jul 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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