By Andrew M Spencer — Nov 12 - 09:45 PM
Steady in a 1.0611-1.0629 range with the USD off 0.1%, as UST yields eased
As the US prices inflationary Trump policies yield differentials cap EUR/USD
No tier 1 EZ data, so EUR/USD will be driven by U.S. CPI and UST yields
Charts - daily momentum studies fall as 21-day Bollinger bands expand
5, 10 & 21-day moving averages fall, signals show a bearish trending setup
Tuesday's 1.0663 top then Monday's 1.0728 high are initial resistance
1.0608, 0.382% of 2022/2023 rise and 1.0601 2024 low held - major support
Close below Tuesday's 1.0595 low would target the 1.0448 2024 base
1.0600 2.109 BLN 1.0625/30 1.467BLN and 1.0650 1.3700 BLN - Nov 13 strikes
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary