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Begins to Edge Itself Away From $1.1850. USD Soft Ahead of NY.

EUR
MNI (London)
  • Quietly extends its recovery to $1.1884 as the USD continues to be pressed lower.
  • Move expected but momentum has been tempered by the attractive influence of the $1.1850 level, which holds the strike for E2.1bln of EUR calls for today's NY cut.
  • Resistance expected into $1.1900 ahead of the recent Sep9 high at $1.1920, with the 78.6% retrace level, of the move down from the 2020 high of $1.2011 to $1.1603 coming in close behind at $1.1923.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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