XE Market Analysis: North America – Oct 27, 2016

The dollar majors remained directionally uneventful into the North American open. EUR-USD settled to an oscillation around 1.0900, below yesterday’s one-week high at 1.0946. The pair has now made three successive higher closing levels on the daily chart, which along with a tallying decline in downside momentum indicators suggest a base has been established after a three-week bear phase. Further mean reversion would bring the 1.1000 into play, just above which the 20-day moving average is presently situated. While expectations for a December Fed rate hike haven’t fully cemented (Fed funds were on Wednesday indicating a 72% probability for a…

Source: XE news feed
XE Market Analysis: North America – Oct 27, 2016