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May 23 - 08:55 PM

EUR/USD - Strikes Contain, 1.2245 Caps, But Bias Remains Higher

By Andrew M Spencer  —  May 23 - 07:15 PM

  • -0.05% after closing down 0.4% on broad USD strength, rejecting 1.2245

  • Belarus forces airliner to land, arrests opponent nL2N2NA080

  • EU leaders to discuss 'possible sanctions' against Belarus nS8N2IP02J

  • Last week's rejection of 1.2240/45 left a double top, strong resistance

  • Momentum studies crest, 5, 10 & 21 DMAs plus 21 day Bolli bands climb

  • Positive setup sustains the topside bias while 1.2117 rising 21 DMA holds

  • 1.003BLN 1.2145-60 and 1.300BLN 1.2200 strikes likely contain in Asia

  • NY 1.2161 low and London 1.2237 high initial support and resistance


For more click on FXBUZ


eur may 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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