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Dec 22 - 03:55 PM

EUR/USD - Slips Below 10-Day Avg At 1.0601, Eyes 21-Day Avg By 1.0524

By Paul Spirgel  —  Dec 22 - 01:55 PM
  • EUR$ slips 0.25% to 1.0580, Thursday's range 1.0659-1.0576

  • EUR$ closing below its 10-DMA (1.0601), caught w/in 1.0659-1.0576 wkly range

  • U.S. GDP, claims hint Fed needs to do more to combat inflation boosts USD

  • Risk hit amid growing China-COVID angst; stox, commods offered

  • Front-end of E$ (FI) strip moves lower, hints at Fed higher-for-longer

  • Close below 10-DMA puts 21-DMA at 1.0524 in focus, then Dec 8 low 1.0489

  • Close below 1.0480 50% Fib of 1.0223-1.0737 shifts momentum to EUR bears

  • Standard year-end liquidity caveat in play

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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