By Jeremy Boulton — Oct 10 - 06:00 AM
Adds chart
EUR/USD rises to 1.0611 EBS on Tuesday Oct 10
Oct 10 range 1.0555-1.0611 is a step up from Monday's 1.0520-74 EBS
EUR/USD drop was stretched below base 20-day Bollingers on Oct 2/3
Subsequent rebound alleviates the oversold situation
EUR/USD is now trading slightly above the centre 20-day Bollingers
Targets for a larger upside correction are 1.0643 and 1.0764
Rising gas prices spell trouble for the euro nL1N3BG0NI
Source:
Refinitiv IFR Research/Market Commentary