10.13 Wednesday, for the past 24 hours: • EURUSD has dropped 23 pips against the previous day close; • ↓ 46 pips High & Low extreme move, vs. 50.2 pips of 22 day Average Range.
Strength (0~10) Comparison: • USD in early session MEDIUM 4.2 -> 7.3 STRONG of late session • EUR in early session WEAK 2.3 -> 3.2 WEAK of late session
Market Focus & Moods: • 'It was a messy set of moves that never quite established a theme.' Watch out above US10Y bond yields, in 4h Chart, which falls back to neckline, if further falling, it could cause trouble for USD strength. • Wednesday, morning LND 7am DE CPI, 10am EU Industrial Production; Afternoon, 1:30pm US (Core) CPI; 7pm US Fed FOMC Minutes.
Next Step: • Due to US Dollar rally is true, I expect a test: - Resistances 1st 1.1535, 2nd 1.1548, 3rd 1.1570; - Support at 1st 1.1520 (weak), 2nd 1.1508, 3rd 1.1494; - Close around 1.1505~ 1.1480 area.
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