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Aug 06 - 04:55 AM

EUR/USD - Relentless EUR/USD Extends 2-Year High, Faces Stiff Resistance

By Richard Pace  —  Aug 06 - 02:40 AM
  • EUR/USD setback from Wed's 1.1905 peak based 1.1863 Asia Thurs

  • Marginally extends Fri's 1.1908 2-yr high to 1.1916 early London

  • Profit taking was expected, but setbacks proving limited so far

  • EUR/USD has come along way fast - faces stiff resistance toward 1.2000

  • 1.1950 option barriers - huge 1.20 nL2N2F20HC, related defence

  • Awaits US jobs data now - big miss could prove catalyst for 1.20 test

  • As could inability for U.S congress to agree jobs package nL1N2F7099


EUR=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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