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May 22 - 08:55 PM

EUR/USD - Bid Early Asia As E-Minis Rise And Weigh On USD

By John Noonan  —  May 22 - 07:05 PM
  • EUR/USD edging higher is early trading with E-minis opening +0.60%

  • Risk currencies up against JPY and USD as the week gets underway

  • EUR/USD eased 0.16% Friday, but rose 1.5% last week

  • US growth concerns and falling US yields weighing on USD nL2N2XC15R

  • EUR/USD traded as high as 1.0600 Friday after hawkish ECB comments nF9N2UZ020

  • EUR/USD support at 21-day MA at 1.0536, which had been key resistance

  • More support found at the 10-day MA at 1.0501

  • Resistance is at May 5 high at 1.0642 and 38.2 of 1.1185/1.0349 at 1.0668

  • Bias is slightly in favour of more upside in the short-term

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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