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May 24 - 01:55 AM

EUR/USD - Tight Asian Range, Nervous Investors And Charts Cap

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

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