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Nov 07 - 07:55 PM

EUR/USD - Bounce Stalls As The USD Firms, Large 1.0700 Strikes

By Andrew M Spencer  —  Nov 07 - 06:15 PM
  • Steady after closing off 0.15%, with the safe-haven U.S. dollar up 0.25%

  • Weak German industrial output adds to recession fears in Europe

  • Yield spreads tightened, 10yr bund -7bp to 2.667%, 10yr UST -10bp to 4.568%

  • Charts - mixed momentum studies, 5, 10 & 21-day moving averages rise

  • 21-day Bollinger bands expand - signals show a positive setup

  • Initially targets a break of 1.0764 38.2% 2023 fall in July and October

  • Close below under-pressure 1.0695 October high would suggest consolidation

  • 1.0700 1.362 BLN and 1.7020 1.312 BLN are the close strikes for November 8

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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