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Oct 12 - 08:55 PM

EUR/USD - Opens Unchanged As Option Strikes Contain Ahead Of US CPI

By John Noonan  —  Oct 12 - 06:40 PM
  • EUR/USD opens 0.9700/10 for 3rd straight day as FX action is elsewhere

  • Large option strikes around 0.9700 helping to contain the price action

  • Most of the action is in the GBP and JPY - as the GBP/JPY gained nearly 2% nL1N31D23P

  • EUR/USD consolidating will likely end when US CPI is released later Thursday

  • Resistance is at the 10-day MA at 0.9784 and the 21-day MA at 0.9807

  • Break above 0.9810 would ease downward pressure & suggest bottom is forming

  • Key resistance is at a down-trend line at 1.0010 and break would be bullish

  • Bids are tipped 0.9660/70 with a 0.9650 break targeting trend low at 0.9528

  • EUR/JPY flows out of Tokyo with JPY under pressure will be key in Asia

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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