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Aug 02 - 08:55 PM

EUR/USD - Bearish Outside Day As Hawkish Fed-Speak Sends US Yields Soaring

By John Noonan  —  Aug 02 - 07:00 PM
  • EUR/USD opens -0.90% after reversal higher in US yields underpinned USD

  • Hawkish Fed comments caught market out and led to USD short-covering nL1N2ZE2OO

  • EUR/USD reversed lower after false break above 1.0280 during Asian session

  • The close below Monday's 1.0195 low resulted in bearish outside day

  • Support is at the 21-day MA at 1.0158 and July 27 low at 1.0097

  • Resistance is at the 10-day MA at 1.0200 and break would ease pressure

  • Key in Asia will be EUR/JPY flows out of Tokyo

  • Broad USD moves look set to track volatile US Treasury yields for now

  • For more type (FXBUZ)











Source:
Refinitiv IFR Research/Market Commentary

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