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Jan 21 - 08:55 PM

EUR/USD - Base In Place Around 1.2060, As The USD Slides

By Andrew M Spencer  —  Jan 21 - 07:12 PM
  • Flat, consolidating Thursday's 0.5% gain - positive risk weighed on the USD

  • EU tighten travel curbs on virus hot spots, 3rd wave fears grow nL1N2JW0PN

  • COVID control is very hard to achieve in 27 EU countries without lockdowns

  • Chart; EUR found strong support around 1.2063 38.2% Nov-Jan rise this week

  • Bounce rejected 1.2059 lower 21 day Bolli band - good indicator of oversold

  • Close above 1.2197 21 DMA would target 1.2336 upper 21 day Bolli next week

  • Daily momentum studies, 5, 10 & 21 moving averages conflict - neutral setup

  • NY 1.2136-1.2173 range is initial support-resistance - likely quiet in Asia

    For more click on FXBUZ

eur jan 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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