By Andrew M Spencer — Nov 13 - 07:20 PM
Steady after closing up 0.1%, with the U.S. off just 0.15% ahead of US CPI
Yield spreads little changed, 10yr bund flat at 2.710%, 10yr UST +1bp 4.637%
EU agrees targets for domestic mineral supply to cut the reliance on China
EU diversifying supply lines in the current geopolitical turmoil makes sense
Charts - momentum studies support, 10 & 21-day moving averages climb
21-day Bollinger bands head higher - a modest positive setup
1.0764 38.2% 2023 fall in July and October is key resistance
Close below 1.0636, 50% of the Nov rise, and 1.0630 21 DMA would be bearish
1.0690 898 mln and 1.0700 845 mln are likely magnets for EUR/USD in Asia
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Source:
Refinitiv IFR Research/Market Commentary