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May 28 - 05:55 AM

EUR/USD - Bulls Focus On Key Topside Impediments

By Justin Mcqueen  —  May 28 - 04:10 AM
  • EUR/USD +0.2%, trades in line with yield spreads, thus fairly valued

  • Recent May 16 high (1.0895) marks resistance

  • Meanwhile, $2.5bln option expiry at 1.0900-10 also a possible cap

  • Support: 200-hour EMA/SMA (1.0841-53)

  • Expected month-end FX rebalancing points to strong USD selling nL1N3HU0CZ

  • German CPI (May 29) in focus as ECB cuts are priced out 0#ECBWATCH

  • ECB June cut a done deal, but markets now see two cuts vs three previously

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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