EUR / USD’s 1.1729 low lowest since Nov. 5, but 1.1600 targets are on tap
Better-than-forecast German, EU confidence, sentiment cushion fall • But Bund yields rise more painful for bund (euro) longs than Tsys (duration) 10 -yr Bund-Tsy yields spread is by 2%, with Bund yields at -27bp
Negative yields, spreads to Tsy mean bigger price losses when yields rise
The Nov and Sep major lows at 1.1602 / 12 look to be the next key target
Also have the weekly cloud top and lower 21-week Bolli by 1.16 as targets
There’s a 38,296 Fibo of the pandemic rebound at 1.1695, 1.17 support first
Last week’s IMM data showed specs bought ahead of 200-DMA, now at 1.1869
Those longs likely getting washed out amid US-EU pandemic divergence trend
Next US spending plans, strong March jobs data still on tap this week Might mark a near-term EUR / USD bottom after those events bring 1.16
