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Jan 16 - 09:55 PM

EUR/USD - Heavy At The Range Base As Yield Spreads Jumped

By Andrew M Spencer  —  Jan 16 - 06:50 PM
  • +0.05% after closing down 0.7%, as treasury yields and the USD bounced

  • Yield spreads widened, 10yr bund +2bp to 2.214%, 10yr UST jumped 10bp 4.054%

  • Euro zone consumers slash inflation expectations - good news for the ECB

  • Charts; daily momentum studies ease, 5, 10 & 21 day moving averages slide

  • 21-day Bollinger bands expand - a negative setup at the range base

  • 1.0875, 38.2% of the Oct/Dec rise tested in NY, but just holds

  • Sustained 1.0875 break targets 1.0793 50% of the Oct/Dec rise

  • 1.0898 NY high and then the 1.0926 European top are initial resistance

  • 1.0850 1.056BLN and 1.090/05, 1.221BLN - are the close strikes for Jan 17th

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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