EUR/USD: Pair Poised Above Pivotal Support
Tickmill | Jan 18, 2022 03:46AM ET
EUR/USD pair is poised above crucial support, as US Treasury yields and oil prices surge. The pair is trading towards the base of a 1.1385-1.1421 range, as rising UST yields weigh on it.
United States 2-Year up 8 bp to 1.053%, 10-Year +7 bp to 1.850% and 30-Year +5 bp to 2.177 at writing. Brent oil is up 0.97%, $87.32, a 7-year high on Middle East tensions.
This adds up to a likely lively session as European markets respond. The 5, 10 & 21-day moving averages and 21-day Bollinger bands are rising.
Neutral momentum studies show a positive setup and that the pair is poised above pivotal support. A close below close 1.1386 prior range high would suggest consolidation.
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