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Jan 07 - 11:55 PM

EUR/USD - Bounce, But Events In The US Likely Lead Offshore

By Andrew Spencer  —  Jan 07 - 09:42 PM

• +0.15% in a 1.0339-1.0354 range in Asia, with the U.S. dollar off 0.1%

• German factory orders and retail sales interesting, unlikely market moving

• US ADP jobs, weekly unemployment claims, and FOMC minutes to lead EUR/USD

• Charts - mixed daily momentum studies, 21-day Bollinger bands edge lower

• 5, 10 & 21-DMAs ease, weekly moving averages fall - a modest negative bias

• December 30th 1.0458 top then Dec 17 1.0535 high are initial resistance

• 1.0224 January low then 1.0195 0.618% 2022/23 rise are the first supports

• 1.0350 712mln are the only significant close strikes for Jan 8th
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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