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Jun 16 - 08:55 PM

EUR/USD - ECB Relaxed On Euro Strength - Positive Setup

By Andrew Spencer  —  Jun 16 - 07:45 PM

• Steady after closing up 0.1% with the U.S. dollar off 0.1%

• G7 leaders struggle for unity over Trump's Russia comments, tariff policy

• ECB relaxed about euro strength, risk of too low inflation, de Guindos said

• Charts - neutral daily momentum studies, 5, 10 & 21-day moving averages rise

• 21-day Bollinger bands climb - daily charts retain a topside bias

• Thursday's 1.1486 low, then the 1.1372 June 6 base are initial supports

• Last week's 1.1632 2025 high, then 1.1692 Oct 2021 high, first resistance

• Uptrend remains in place while 1.1411 21-DMA holds on the close

• 1.1600 669mln and 1.1625 1.697BLN close significant June 17 strikes
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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