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Jul 15 - 08:55 PM

EUR/USD - Lower As Yield Spreads Widened - Uptrend Strong

By Andrew M Spencer  —  Jul 15 - 07:50 PM
  • Steady after closing off 0.15% with the U.S. dollar up 0.2% with UST yields

  • Yield spreads widened, 10yr bund -2bp 2.470%, 10yr UST +4bp 4.229%

  • ECB to leave rates unchanged on Thursday - data dependant on next cut

  • Charts; net positive daily momentum studies, 21-day Bollinger bands expand

  • 5, 10 & 21-day moving averages climb - the daily signals remain supportive

  • Monday's 1.0881 low and then Friday's 1.0862 base are initial supports

  • Yesterday's 1.0922 trend high then the 1.0980 March top initial resistance

  • 1.0900 2.578BLN and 1.0925 1.332BLN July 16th strikes likely cap in Asia

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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