Free Trial

Greenback Reverses Brief Dip To Print Session Highs, EURUSD Nearing Support

USD
  • EURUSD swiftly reverses the Bernstein headline kneejerk spike to 0.9909 and now making fresh session lows below 0.9860 as Bloomberg clarify that the pivot he was referring to was in tightening policy in 2022.
  • The support to watch is 0.9830, the former bear channel resistance, which was broken last week.
  • Technically, trend conditions remain bullish and the recent pullback is considered corrective.
  • As mentioned earlier, there are also some notably large option expiries between 0.99 and 1.00 which may limit the pairs downside at this juncture, especially given the proximity to the FOMC and US jobs data.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.