EUR/USD now looks to...from Ricktran111

26 Nov 2019, 14:37 · Views 1,434

EUR/USD now looks to 1.0965 – UOB FX Strategists at UOB Group now see EUR/USD slipping back to the 1.0965 level in the next weeks.

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The AUD/USD pair jumped to fresh session tops in the last hour, albeit seemed struggling to extend the momentum further beyond the 0.6800 round-figure mark. The pair managed to reverse an early dip back closer to the lower end of its weekly trading range, around the 0.6785 region and was now being supported by the prevalent weaker tone surrounding the US dollar.

Ricktran111

USD/JPY remains bearish/neutral near-term – UOB USD/JPY is seen grinding lower in the next weeks, with the next target at the 108.00 handle, noted FX Strategists at UOB Group.

Ricktran111

EUR futures: scope for extra losses Open interest in EUR futures markets rose by nearly 1.5K contracts on Friday according to preliminary readings from CME Group. In addition, volume increased by around 19.1K contracts, extending the erratic performance. EUR/USD targets 1.10 and below Friday’s negative price action in EUR/USD was on the back of rising open interest and volume, leaving the door open for extra losses in the near-term. That said, a test of the 1.10 neighborhood and probably below remains well on the cards in the short-term horizon.

Ricktran111

AUD/USD refreshes session tops, retakes 0.6800 handle This coupled with deteriorating global risk sentiment, as depicted by a sea of red across equity markets, might further contribute towards capping any strong gains for perceived riskier currencies – like the Australian dollar. Hence, it will be prudent to wait for some strong follow-through buying, possibly beyond a 100-day SMA barrier near the 0.6835 region, before positioning for any further near-term appreciating move for the major. There isn't any major market-moving economic data due for release on Thursday and hence, the incoming trade-related headlines might continue to play a key role in producing some short-term trading opportunities.

Ricktran111