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2025-10-20 08:49:02
[EUR/USD Shows Resilience, Ignoring Negative News and Bearish Technical Signals] 1. EUR/USD edged up 0.1% in early Asian trading on Monday, currently trading around 1.1663, after closing down 0.3% on Friday. Despite negative news over the weekend, including sources revealing that Trump urged Ukrainian President Zelensky to make concessions to Russia and S&P's unexpected downgrade of France's credit rating (Full Story), the exchange rate held back from significant declines in early Asian trading, demonstrating resilience. 2. Technically, the chart shows the 21-day Bollinger Band moving downward, while the 10-day and 21-day moving averages are also trending lower. The daily momentum indicator is neutral, maintaining a neutral pattern after the recent rebound. 3. Initial resistance lies at last Friday's high of 1.1728 and the October 1 high of 1.1778. Support lies at the 10-day moving average of 1.1629 and the October low of 1.1542. 4. In addition, for options expiring on October 20, there are $886 million at the 1.1645 level and $909 million at the 1.1715 level, which is expected to affect intraday fluctuations.
