By Andrew Spencer — Dec 30 - 09:54 PM
• +0.05% in a 1.2541-1.2560 range with strong flow on FX Matching
• The USD eased on continued year-end yen strength and mixed China PMI
• There is no UK data today, so expect tight sterling ranges led by the USD
• Charts - daily momentum studies flat line, 21-day Bollinger bands edge lower
• 5, 10 & 21-DMAs conflict - a neutral daily setup, weeklies remain bearish
• The 1.2475 November trend base held on Dec 20th - remains the major support
• 1.2730 Dec 18th high, then the 1.2810 December top are initial resistance
• The 1.2446 May 2024 low and the 1.2810 December high are the pivotal
levels
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters