Euro (EUR) jumped above 1.17-handle overnight but there was no particular headline or data that drove the move. Pair was last seen at 1.1690, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Bearish momentum on daily chart is fading
"Broad USD slippage was the trigger. Bearish momentum on daily chart is fading while rise in RSI moderated. 2-way trade likely in absence of fresh catalyst. Resistance here at 1.1690 (21 DMA), 1.1820 levels. Support at 1.1620, 1.1520 (50 DMA)."
"Key event this week – ECB meeting – but expectations are for no move (likely a non-event). Data to watch: prelim PMIs (Thursday), German IFO (Friday)."
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Investing in Clean Energy
TradingKey - Not so long ago, clean energy was relegated to a niche, a corner for subsidies, early markets, and greens. Now it's at the center of global economic thought. Governments, business, and consumers are driving a structural transformation from fossil fuels to renewables. The roofs are toppeTradingKey
16 hours ago
Investing in Luxury & Experiential Consumption
Niche assets like data centers, logistics, healthcare, and cold storage thrive on structural drivers, not traditional property cycles Specialized real estate benefits from secular trends like digitalization, demographics, and supply chain innovation, making demand resilient and less cycle-sensitiveTradingKey
18 hours ago
Oracle’s FY2026 Q1 Preview: Will OpenAI Contract Spark a Broadcom-Like Stock Surge?
TradingKey - As analysts raise targets and expectations, could Oracle’s stock replicate the post-earnings rally seen at Broadcom following its OpenAI-related contract announcement?TradingKey
Tue, Sep 9
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?
TradingKey - On 11 September 2025, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI. As a result, headline CPI year-over-year may climb to 2.9%, up from 2.7%TradingKey
Tue, Sep 9
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.TradingKey
Mon, Sep 8
Tradingkey
