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Feb 16 - 07:55 PM

EUR/USD - Bearish Outside Day As US Yields Support USD

By John Noonan  —  Feb 16 - 06:03 PM
  • EUR/USD opens 0.17% lower after surge in US yields underpinned USD nL1N2KM1QH

  • Before the fall EUR/USD broke above resistance at 1.2150 to 1.2168

  • The subsequent fall resulted in a bearish outside day

  • The EUR/USD is testing support at the 21-day MA at 1.2102

  • More support at 10-day MA at 1.2088 and break targets 100-day MA at 1.1996

  • Resistance at 61.8 of 1.2349/1.1952 at 1.2197 validated by the price action

  • Focus now on rising US yields, as they start to impact other asset classes

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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