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Nov 09 - 07:55 PM

EUR/USD - Opens Lower On Hawkish Fed Stance - ECB Talk Tonight

By Andrew M Spencer  —  Nov 09 - 06:00 PM
  • Steady early after closing -0.4% amid higher UST yields on the hawkish Fed

  • Yield spreads widened, 10yr bund +4bp 2.654% and 10yr UST +11bp 4.632%

  • ECB President Lagarde speaks tonight - interesting to hear her views

  • Charts - mixed momentum studies, 10 & 21-day moving averages rise

  • 21-day Bollinger bands head higher - signals still show a positive setup

  • Initially targets a break of 1.0764 38.2% 2023 fall in July and October

  • Close below 1.0613 21 DMA and 1.0608 61.8% of the Nov rise would be bearish

  • 1.0650 587 mln and 1.0680 614 mln strikes likely define the range in Asia

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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