Euro (EUR) jumped above 1.17-handle in a single day however there was no specific headline or information that drove the transfer. Pair was final seen at 1.1690, OCBC’s FX analysts Frances Cheung and Christopher Wong word.
Bearish momentum on day by day chart is fading
“Broad USD slippage was the set off. Bearish momentum on day by day chart is fading whereas rise in RSI moderated. 2-way commerce probably in absence of contemporary catalyst. Resistance right here at 1.1690 (21 DMA), 1.1820 ranges. Help at 1.1620, 1.1520 (50 DMA).”
“Key occasion this week – ECB assembly – however expectations are for no transfer (probably a non-event). Information to observe: prelim PMIs (Thursday), German IFO (Friday).”
