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Aug 25 - 04:55 AM

EUR/USD - Rebound Should Be Welcomed By A Market Eager To Sell

By Jeremy Boulton  —  Aug 25 - 02:45 AM
  • EUR/USD rallies 0.9963-1.0033 EBS, resistance at Aug 22 peak at 1.0050

  • Pair has rallied following a slide into oversold territory

  • Lower half 20-day Bollinger bands is 0.9936-1.0154 Aug 23/24 lows 0.9901/10

  • Recent FX movement may result from SNB FX intervention nL1N3010DF

  • Many other cenbanks have been intervening to curb USD strength

  • Most will rebalance to maintain the level of FX reserves

  • This means selling EUR/USD or buying USD/JPY

  • Speculators should be keen sellers too nL1N3000KA




Source:
Refinitiv IFR Research/Market Commentary

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