By Andrew M Spencer — Apr 27 - 07:50 PM
Off 0.1% extending Wednesday's 0.2% loss amid broad USD strength
UK car production in March weakest since '09 financial crisis nB8N2QH00L
Manufacturing COVID supply chain issues magnified by Ukraine-Russia conflict
Charts; momentum studies, 5, 10 & 21 day moving averages head lower
21 day Bollinger bands expand - strong bearish trending setup
1.2496, 61.8% of the 2020-2021 rise tested Wednesday - key support
Sustained 1.2490 break would open the door to 1.2360 low in July 2020
Close above 1.2840 10 day moving average to undermine downside bias
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Source:
Refinitiv IFR Research/Market Commentary