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Jun 22 - 10:55 PM

EUR/USD - Strong Rebound Leaves 1.1157 As Pivotal Support

By Andrew M Spencer  —  Jun 22 - 08:35 PM
  • Up 0.1%, after closing up 0.8% with a bullish outside day

  • Rebound driven by bullish risk causing broad USD weakness

  • Charts; momentum studies; 5, 10 & 21 DMAs conflict - neutral setup

  • 1.1157, 38.2% April-June rise, a base and initial pivotal support

  • Break would be bearish signal, targeting 1.1075, 50% April/June rise

  • Close above under pressure 1.1267 10 DMA would be a positive signal

  • 1.1295 50% of the June fall, then 1.1325 61.8% are first resistance

  • 1.1245/50 809M strikes and 1.1204 London low are initial supports

eur jun 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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