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May 05 - 01:55 AM

EUR/USD - Consolidates Post-Fed Gains In Quiet Asian Session

By John Noonan  —  May 04 - 11:40 PM
  • EUR/USD opened +0.98% at 1.0622 after late rally due to Powell comments nL2N2WX01B

  • It eased to 1.0604 early Asia before finding buyers ahead of 1.0600

  • It hipped back up to 1.0642 before settling unchanged at 1.0620/25

  • The 10-day MA is at 1.0603 and another close above that reading solidifies support

  • Resistance is at the 21-day MA at 1.0727, which should be stiff resistance

  • Bids tipped 1.0575/80 and a break below would shift pressure to the downside

  • Trading in Asia was quiet due to Tokyo holiday

  • EUR/USD may consolidate ahead of US non-farm payrolls Friday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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