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Mar 22 - 10:55 PM

EUR/USD - Range Dominates, As Conflicting News Contains

By Andrew M Spencer  —  Mar 22 - 08:39 PM
  • Flat, closed +0.2%, safe haven, as Lira and Rouble collapsed nL1N2LK2Y2

  • Bundesbank nL8N2LK2HN & economists nL8N2LK2QO cool on German recovery

  • EU's vaccine and continued coronavirus issues nL1N2LJ06Q weigh on EUR

  • Charts; neutral momentum studies, 5, 10 & 21 daily moving averages conflict

  • 1.1988 falling 21 DMA and 1.1991, 38.2% of Feb-Mar fall major resistance

  • 1.1835 March low initial key support, then 1.1778, 76.4% Nov-Jan rise

  • Neutral setup suggests 1.1835-1.1991 three week range will extend

  • NY 1.1911-1.1947 range is initial support-resistance

    For more click on FXBUZ

eur mar 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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