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Aug 22 - 08:55 PM

EUR/USD - USD Bounce Capped, EUR/USD Uptrend Survives

By Andrew M Spencer  —  Aug 22 - 07:40 PM
  • Trades +0.05% after closing down 0.35% with the U.S. dollar up 0.4%

  • Broad-based offshore USD & UST correction ahead of Jackson Hole

  • Resilient EZ PMIs, but the Paris Olympics may have flattered the data

  • Charts; daily momentum studies conflict, 21-day Bollinger bands rise

  • 5, 10 & 21-day & week moving averages climb - signals remain bullish

  • 1.1053 10-day moving average and this week's 1.1012 low are key supports

  • Targets major resistance at 1.1271, 0.618% of the 2022-2022 fall

  • 1.241 BLN 1.1100 and 637mln 1.1140 significant close strikes for August 23rd

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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