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Nov 23 - 07:55 PM

EUR/USD - Opens Lower After Completing Bearish Outside Day

By John Noonan  —  Nov 23 - 05:50 PM
  • EUR/USD opens 0.12% lower after failing to break above range-top

  • It traded as high as 1.1906 before tumbling to as low as 1.1799

  • Close below 1.1850 completes a bearish outside day

  • Move lower sparked by much better US PMI readings nL1N2I928I

  • Resistance at Nov 9 trend high at 1.1920 validated by price action

  • Support at 21-day MA (1.1793 today) also proved to be solid

  • EUR/USD range trading likely to continue in holiday affected week

  • Concerns that US economy will weaken offset by EZ economic concerns

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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