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Jun 13 - 08:55 PM

EUR/USD - Negative Setup Above Key Support, As Uncertainty Caps

By Andrew M Spencer  —  Jun 13 - 08:05 PM
  • +0.05% early after closing down 0.65% amid political uncertainty - USD +0.5%

  • Modest yield spread change, 10yr bund -4bp 2.491%, 10yr UST -5bp 4.240%

  • Trade conflict with China could have a significant economic impact

  • Charts - momentum studies slide, as 5, 10, & 21-day moving averages fall

  • 21-day Bollinger bands expand - daily signals maintain a negative setup

  • Thursday's 1.0816 high then Wednesday's 1.0852 top are the first resistance

  • 1.0719/21 0618% of the April/June rise and this week's 1.0719 base supports

  • A close below 1.0700 would be a strong bearish signal for next week

  • 1.0700 987mln and 1.0750 854mlnare the close strikes for June 14

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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