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Oct 17 - 02:55 AM

EUR/USD - Leans Bullish While Above 1.0500

By Peter Stoneham  —  Oct 17 - 01:45 AM
  • A shallow bull bias holding, contained by a developing trend support

  • The line off the 1.0448 Oct. 3 low comes in at 1.0508 today

  • Fourteen day momentum has flipped to positive, first time since late July

  • However, daily RSI is pointing down in neutral territory

  • Initial resistance at 1.0570, the 21-day moving average line

  • Pivotal resistance at the Oct. 12 1.0640 high

  • We lean bullish but will wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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