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Aug 14 - 04:55 PM

EUR/USD - By Week's High And Eyeing 1.19 Again On U.S. Sales, Relief Angst

By Randolph Donney  —  Aug 14 - 02:35 PM
  • EUR/USD nearing week's 1.1864 EBS high after U.S. sales data nL1N2FG0YV

  • Main dollar worry is lack of fiscal support will hurt the recovery

  • Also that pandemic not being properly controlled

  • Charts improve after last week's low held, tenkan closed above

  • But still dealing with record net spec IMM long as a possible drag

  • String of upcoming 1.19 expiries and August tops just above may cap

  • A 1.19+ close would target 1.1976/78, 161.8% Fibo of March low & Bolli

  • Uptrend's intact unless there's a close below last week's 1.1695 low

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Source:
Refinitiv IFR Research/Market Commentary

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