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TDUX
Oct 08 - 11:55 PM
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EUR/USD - Rout Continues, But Loses Short-Term Momentum

By James Connell  —  Oct 08 - 10:35 PM

• EUR/USD +0.1% in Asia Fri selling pressure eases on pause in bond anxiety

• EUR entrenched in downtrend, down cumulative 4.2% from 1.1711 Aug 21 high

• Pair targets 1.1065 17-month low, break opens door for move toward 1.0733

• Investors remain wary of FR debt problems despite spending cut promises

• ECB expected to hold deposit rate steady in Oct, despite surging inflation

• Euro zone Aug industrial production due Thur, prior -0.1% m/m, flat y/y

• Range Asia 1.121150-2875, support 1.1065 1.0733, resistance 1.1710 1.1850
EUR Daily 21/55/100-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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