By Andrew M Spencer — May 23 - 11:40 PM
Steady in a tight, quiet 1.0766/79 Asian range, as safe havens gain traction
Concerns surrounding a U.S. debt default are keeping investors nervous
UST yields are lower in Asia, 2yr -9bp 4.252%, 10yr -1bp 3.682%
Upbeat Japanese manufacturers, may support sentiment in Europe
Charts; 21-day Bollinger bands expand, while momentum studies crest or fall
5, 10 & 21-day moving averages track lower - negative trending setup
1.0758 NY low, then 1.0736 61.8% of the 2023 rise are initial support
1.0795 NY high then 1.0826 10-day moving average are the first resistance
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary