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Nov 07 - 11:55 PM

EUR/USD - Consolidates Gains In Quiet Asian Session

By John Noonan  —  Nov 07 - 10:40 PM
  • EUR/USD opened +0.58% at 1.1017 after USD eased on improving risk appetite nL1N3231P9

  • In a quiet Asian session it consolidated in a 1.0006/31 range

  • Heading into the afternoon it is trading 1.0010/15

  • EUR/USD threatening 100-day MA at 1.0042 and close above would be bullish

  • It hasn't closed above the 100-day MA since early February

  • A break initially targets the Oct 27 high at 1.0093

  • Support is at 0.9930/49 where bids have held attempts lower the past week

  • Sentiment turning bullish, but Thursday's US CPI presents a risk for bulls

  • A hotter than expected US CPI would see a hawkish turn in Fed expectations

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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