EUR/USD Outlook Mixed

 | Dec 09, 2021 04:11AM ET

  • EUR soft in Asia, some pull-back after gains yesterday, buy-backs over?
  • EUR/USD 1.1348 to 1.1331 EBS, high yesterday 1.1355
  • Market likely capped for now ahead of 1.1400, 1.1387 spike high Nov. 30
  • Support eyed from ahead of 1.1300, good on 1.12 handle
  • Nearby option expiries today - 1.1300-25 E621 mln, 1.1350-1.1410 E1.7 bln
  • EUR/JPY also sags some from 129.11 high yesterday, Asia 128.88-129.03 EBS
  • EUR/GBP off a bit too from 0.8598 high yesterday, Asia 0.8584-90, quiet
  • Large nearby option expiries - 0.8475-80 E539 mln, 0.8550-60 E746 mln
  • EUR/CHF 1.0437-42 in Asia after push up to 1.0455 yesterday
  • EUR/USD outlook is mixed, bears need key resistance to hold
  • Fourteen-day momentum has remained negative since early November
  • However, Wednesday's gain breached the Dec. 2 1.1347 high = bullish
  • Last week's 1.1387 peak should act as a barometer for direction
  • A clean and sustained break above 1.1387 will signal a bullish revival
  • Dollar could be in for another rough December