VOT Research Desk
The November Eurozone Consumer Confidence report, which is predicted to come in at -26.0 from -27.6 previously, could influence decisions today. As European traders get ready for Tuesday’s assignment, the EUR/USD reduces intraday gains near 1.0250.
Recent losses in the main currency pair may be related to conflicting messages from central bankers as well as China’s problems with the coronavirus.
The cautious atmosphere in advance of the November preliminary readings of the Eurozone Consumer Confidence also appeared to have presented difficulties for the pair purchasers recently.
According to the Financial Times, Robert Holzmann, a policymaker at the European Central Bank (ECB), recently supported a third consecutive 75 basis point (bps) rate increase for the December monetary policy meeting (FT).
The EUR/USD bears can aim for September’s peak near 1.0200 if they avoid crossing a convergence of the 10-Day Moving Average (DMA) and the two-week-old ascending trend line, which is currently at 1.0285.
|
Daily SMA20 |
1.0097 |
|
Daily SMA50 |
0.9933 |
|
Daily SMA100 |
1.0024 |
|
Daily SMA200 |
1.0408 |
