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Mar 25 - 08:55 PM

EUR/USD - Support Holds, But Few Reasons To Fight The Trend

By Andrew M Spencer  —  Mar 25 - 07:00 PM
  • +0.05% after closing -0.4%, as vaccine, lockdown issues weigh nL1N2LN0TT

  • Macron backs EU vaccine export controls, sees more restrictions nL1N2LN3SA

  • EU says on track for 70% of adults vaccinated in second quarter nB5N2ID00L

  • Poor EU Q1 vaccine rollout may be rectified in Q2, but 3rd wave expands

  • Charts are bearish, as momentum studies, 5, 10 & 21 DMAs track south

  • Targets major long term support at 1.1694, 38.2% of the 2020-2021 climb

  • Close above the falling 1.1930 21 DMA would undermine the downside bias

  • 1.1756 lower 21 day Bolli band and 1.1815 NY high first support, resistance

    For more click on FXBUZ

eur mar 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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