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Feb 07 - 07:55 PM

EUR/USD - On Hold Above Major Support As Hawks Make Their Case

By Andrew M Spencer  —  Feb 07 - 06:10 PM

  • Steady after closing little changed, despite the U.S. dollar slipping 0.25%

  • ECB policymaker Joachim Nagel - we need further, significant rate hikes

  • ECBWATCH prices a 50pt hike on March 16th at 48.88% - peak in July at 3.43%

  • Charts; negative momentum studies, horizontal 21 day Bollinger bands

  • 5, 10 & 21 day moving averages crest/fall - modest negative signals

  • Closed above 1.0704 lower 21 day Bollinger band again - remains support

  • Sustained 1.0700 break would open the door to the 1.0482 2023 base

  • NY 1.0767 high then 1.0830 21 day moving average are initial resistance

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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