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