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Aug 08 - 09:55 PM

EUR/USD - Opens Softer As Technical Signals Turn Bearish

By Andrew M Spencer  —  Aug 08 - 08:20 PM
  • +0.05% after closing -0.45% - safe-haven U.S. dollar +0.45% as risk soured

  • Yield spreads weighed, 10yr bund -12bp to 2.442%, 10yr UST -5bp 4.024%

  • EZ consumers are optimistic on lower inflation, but pessimistic about wages

  • Techs; 21-day Bollinger bands slide, daily momentum studies edge lower

  • Net negative 5, 10 & 21-day moving averages - neutral setup turned bearish

  • Signals initially target a test of 1.0879 61.8% of the May/July rise

  • 1.1011 early European high is the initial resistance

  • 1.0980 682 mln are the only close Aug 9th strikes

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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