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Oct 15 - 09:55 PM

EUR/USD - Testing Key Support Despite EZ Stronger Data

By Andrew M Spencer  —  Oct 15 - 08:05 PM
  • Off 0.05% early after closing down 0.15%, capped by EUR/JPY -0.57% selling

  • EZ data showed signs of life as German IP and ZEW surveys beat expectations

  • EZ yields fell, 10yr bund -5bp 2.228%, as falling oil trumped stronger data

  • Charts - daily momentum studies slip, 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages track lower, a negative trending setup

  • This week's 1.0936 high then last week's 1.0997 top are initial resistance

  • 1.0873/76, 0.618% Jun/Sep rise and the 200-day moving average major support

  • 1.0950/55 3.021BLN is the closest significant strike for October 16th

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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