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Sep 22 - 08:55 PM

EUR/USD - Surprise SDP Win In Brandenburg - Charts Net Positive

By Andrew M Spencer  —  Sep 22 - 07:35 PM
  • Flat after closing unchanged with the U.S. dollar up 0.1%

  • Yield spreads tightened, 10yr bund +3bp to 2.220%, 10yr UST flat at 3.604%

  • Germany's SDP leader Scholz is set to win the state election in Brandenburg

  • Far-right AfD led ahead of the vote, result gives Scholz a chance to rebuild

  • Charts retain a modest positive bias; daily momentum studies base/rise

  • 21-day Bollinger bands contract while 5 & 10-day moving averages climb

  • Last week's 1.1189 high, then the August 1.1201 top are pivotal resistance

  • Friday's 1.1136 low, then last week's 1.1068 base are initial supports

  • 1.1150 1.862 BLN are the close strikes for September 23rd

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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