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Oct 25 - 09:55 PM

EUR/USD - Softer U.S. Dollar Leads A Key Topside Break

By Andrew M Spencer  —  Oct 25 - 08:30 PM

  • -0.05% after closing up 0.95%, supported by broad 'risk on' USD weakness

  • Europe faces a tough winter nL1N31Q0IW, dour business morale nL8N31Q2HM

  • Euro rebound driven by improved risk appetite weighing on safe haven USD

  • Charts; momentum studies, 5, 10 & 21 day moving averages head north

  • 21 day Bollinger bands climb - daily signals provide a positive setup

  • Closed above trend line resistance from February, now 0.9934 key support

  • Positive setup and trend line break target 1.0279, 38.2% of the 2022 fall

  • 0.9900/20 2.689 BLN, 0.9950 754 mln and 1 1.350 BLN close strikes

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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