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Sep 23 - 01:55 AM

EUR/USD - Moves Back Above 1.1700 As Option Expiries Underpin

By John Noonan  —  Sep 22 - 11:47 PM
  • EUR/USD opened 0.32% lower at 1.1687 after FOMC deemed hawkish

  • It traded 1.1683 before attaining a bid tone on small EUR/JPY demand

  • Large option expiries around 1.1700 helped to draw the price action

  • Heading into the afternoon the EUR/USD is at session high around 1.1700

  • Technicals lean bearish after EUR/USD completed a bearish outside day

  • The 5, 10 and 21-day MAs are aligned in a bearish formation and tilt lower

  • Resistance is at the 10-day MA at 1.1758 and break would ease pressure

  • Support and objective of move lower is the 2021 low at 1.1664

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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