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Aug 14 - 10:55 PM

EUR/USD - US Dollar Strength, Leaves The Euro Trending Lower

By Andrew M Spencer  —  Aug 14 - 08:45 PM
  • Steady after closing down 0.4% amid broad base U.S. dollar strength

  • Wider yield spreads weighed, 10yr bund +1bp 2.637%, 10yr UST +4bp 4.203%

  • Uncertainty on the economic outlook for China drives safe-haven USD demand

  • Techs; 21-day Bollinger bands and daily momentum studies slide

  • 5, 10 & 21-day moving averages fall - signals show a strong negative bias

  • 1.0879, 61.8% May-July rise, and 1.0874 New York low are initial supports

  • NY afternoon 1.0936 high then Europe's 1.0960 top are the first resistance

  • 1.0900 1.280BLN and 1.0940 2.306BLN are the close strikes for August 15

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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