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Apr 01 - 08:55 PM

EUR/USD - Downtrend Extends As Strong US Data Weighs

By Andrew M Spencer  —  Apr 01 - 07:00 PM
  • Steady after closing -0.45%, as US ISM pushed UST yields and the USD higher

  • ECBWATCH prices a 25pt June cut at 23.5bp - FEDWATCH 25pt June cut 15.37bp

  • Upcoming data key for both central bank rate decisions and thus the EUR/USD

  • Recent fundamentals suggest the US economy is more resilient than Europe's

  • Charts - daily momentum studies slide, 21-day Bollinger bands expand

  • 5, 10, and 21-day moving averages fall head - the setup remains bearish

  • Signals target a test of the 1.0695 2024 low on February 14th

  • A close above the 1.0815 10-day moving average would end the downside bias

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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