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Nov 13 - 09:55 PM

EUR/USD - Technical Setup Supports, 1.0690/00 Strikes A Magnet

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

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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