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Aug 16 - 01:55 AM

EUR/USD - Sticks Close To 1.1800 As Risk Aversion Rises

By John Noonan  —  Aug 15 - 11:44 PM
  • EUR/USD opened 1.1794 after 0.56% gain Friday on weak US consumer sentiment nL1N2PK1OG

  • USD gained against risk currencies in Asia while the EUR/USD barely moved

  • Range was 1.1790/1.1800 and is 1.1790/95 into the afternoon

  • The 21-day MA at 1.1800 is providing some resistance after Friday's rise

  • More resistance is 1t the 61.8 of 1.1909/1.1706 move at 1.1831

  • Strong support around 1.1700 validated by recent price action

  • EUR/USD may extend higher on short-covering but gains may be fleeting nL4N2PN09G

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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