• Trades up 0.05% in a tight 1.0299-1.0309 Asian range with the USD off 0.05%
• No tier-one EZ data - US building permits lead a second-tier US schedule
• Trump Treasury pick Bessent- Fed independence, USD, Russia oil sanctions key
• The Trump inauguration on Monday - the potential start of a new world order
• Charts - positive daily momentum studies, 21-day Bollinger bands ease
• 5, 10 & 21-DMAs coil, weekly moving averages fall - downtrend has stalled
• Wednesday's 1.0354 top, then last week's 1.0437 high are initial resistance
• 1.0195 0.618% of 2022/2023 rise then Monday's 1.0177 base are first supports
• Bulls need a close above last week's 1.0437 high to get excited
• 1.0300 4.517 BLN Jan 17th strikes acted as a magnet in Asia
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)