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Nov 11 - 11:55 PM

EUR/USD - Poised Above Long-Term Support - Strong USD Caps

By Andrew M Spencer  —  Nov 11 - 10:05 PM
  • Trades off 0.1% in a 1.0642-1.0663 range, with the U.S. dollar up 0.1%

  • German and EZ ZEW economic sentiment leads data - unlikely market moving

  • Pressure builds on German chancellor Scholz to agree to a quicker election

  • Charts - daily momentum studies fall as 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages edge lower, signals retain a bearish setup

  • Monday's 1.0728 high then Thursday's 1.0824 top are initial resistance

  • 1.0608, 0.382% of 2022/2023 rise and 1.0601 2024 low are major support

  • 1.0625 1.110 BLN and 1.0725 2.285 BLN are the major close strikes for Nov 12

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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