By Andrew M Spencer — Oct 24 - 07:45 PM
Flat early after closing up 0.45%, with the USD -0.4% as UST yields slipped
EZ PMI edged higher but missed forecasts as the economy contracts
ECB leaders have formulated a plan to boost the regions performance
Charts - mixed daily momentum studies, 21-day Bollinger bands contract
5, 10 & 21-day moving averages track lower, signals retain a bearish bias
The 1.0841 10 DMA then Monday's 1.0871 high, are first resistance
1.0783, 78.6% of the Jun/Sep rise and 1.0777 August low are strong support
Sustained 1.0775 break will target a test of the 1.1066 June trend low
1.0800 1.583BLN and 1.0820 1.172BLN are the large Oct 25th close strikes
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary