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Jun 09 - 10:55 PM

EUR/USD - Close Strikes Contain - ECB Unlikely To Surprise

By Andrew M Spencer  —  Jun 09 - 08:38 PM

  • Flat after closing a touch firmer after failing to hold above 1.2200 in NY

  • ECB to raise growth and inflation forecasts, no policy change nL3N2NQ43G

  • Unless ECB or U.S. CPI surprises, current choppy consolidation can extend

  • Charts; 5, 10 & 21 DMAs conflict suggesting further choppy consolidation

  • 1.2110 and 1.2261 contracting 21 day Bollinger bands likely define the range

  • Friday's 1.2104 low and last week's 1.2254 high are initial key levels

  • 1.2171 low in Asia yesterday and NY 1.2218 high initial support resistance

  • 1.2170/75 1.045BLN and 1.2180/90 1.592BLN strikes a likely magnet in Asia

    For more click on FXBUZ


eur jun 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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