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Nov 11 - 01:55 AM

EUR/USD - Supported By EUR/JPY Demand As Asian Stocks Slip

By Andrew M Spencer  —  Nov 10 - 10:00 PM
  • Steady in a 1.0705-1.0728 range - EUR/JPY +0.55%, Asian stocks are lower

  • Chancellor Olaf Scholz agreed to an earlier German confidence vote

  • Veterans day in the US, no major EZ data, so moderate FX ranges likely

  • Charts - negative daily momentum studies, 21-day Bollinger bands slip

  • 5, 10 & 21-day moving averages edge lower, signals retain a bearish setup

  • 1.0780/1.0826 5, 10 & 21 DMAs, then last week's 1.0937 high first resistance

  • Wednesday's 1.0682 base and the 1.0666 June low are initial supports

  • 1.0700 1.220 BLN and 1.0780 1.164 BLN are the major close strikes for Nov 11

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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