EUR traded higher against USD and closed at 1.1094
- Touch softer – closed up 0.05% after recording a fresh 1.1076 Jan low
- UK to set out goals for EU trade talks – PM Johnson’s spokesman
- Charts show momentum studies, 5, 10 & 21 DMAs edging lower – negative setup
- 1.1080/85, 61.8% of the Nov-Dec bounce and Jan double bottom held on close
- Sustained 1.1075 break a bearish signal, next stop 1.1042 76.4% Nov-Dec rise
- 1.1113, 38.2% of the January dip and 5 DMA is initial resistance
- 1.1100 350M, 1.1125 230M, and 1.1140-50 1.5BLN strikes cap
According to the Analysis, pair is expected to find support at 1.1082 and a fall through could take it to the next support level of 1.1076. The pair is expected to find its first resistance at 1.1102 and a rise through could take it to the next resistance level of 1.1108
USD traded lower against JPY and closed at 110.18.
USD/JPY extends losses while taking rounds to 110.00 during early Tuesday. The pair shrugged off the BOJ’s widely anticipated monetary policy decision as risk aversion seems to be in the play.
- USD/JPY extends the recent losses despite BOJ holding its monetary policy intact while keeping forward guidance on interest rates intact.
- News of corona virus outbreak recently triggered risk-off; trade-positive news from the Chinese Commerce Ministry failed to please buyers.
- Geopolitical plays in the Middle East, trade headlines will welcome the US traders returning from the extended weekend.
According to the Analysis, pair is expected to find support at 110.13 and a fall through could take it to the next support level of 110.10. The pair is expected to find its first resistance at 110.21 and a rise through could take it to the next resistance level of 110.24
For More information about the release time of news and its impact visit Economic Calendar Page!