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Nov 07 - 07:55 PM

EUR/USD - Closes Higher Equity Rally And Better EZ Data Underpin

By John Noonan  —  Nov 07 - 05:55 PM
  • EUR/USD opens +0.58% after Wall Street rally kept the pressure on the USD

  • EUR also buoyed by better than expected economic data out of the EZ nL8N3220GDnAPN0QKSPE

  • EUR/USD edging towards key resistance at the 100-day MA at 1.0042

  • It hasn't closed above the 100-day MA since Feb 10

  • More resistance at the Oct 27 higher at 1.0093

  • Support has formed between 0.9730/45 where buyers are tipped

  • 5, 10 & 21-day MAs turning higher - but 5-day needs to cross above 10-day to signal trend

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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