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Nov 22 - 07:55 PM

EUR/USD - Opens Lower As Powell Nomination Pushes Up US Yields

By John Noonan  —  Nov 22 - 05:43 PM
  • EUR/USD opens -0.55% after Powell reappointment sent US yields higher nL1N2SD2JF

  • Break and close below 1.1250 has energised trend lower

  • There is little in the way of support ahead of 76.4 fibo at 1.1040

  • The 5, 10 and 21-day MAs in bearish formation and momentum is strong

  • Only a break above the 10-day MA at 1.1352 would warn of bottom forming

  • Diverging Fed/ECB outlooks and COVID surge in Europe support bear case nL1N2SD0L8

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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