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Sep 07 - 08:55 PM

EUR/USD - Opens Lower As USD Firms On Higher US Yields And Risk Aversion

By John Noonan  —  Sep 07 - 07:15 PM
  • EUR/USD opens -0.25% after USD firmed across the board

  • US yields moved higher despite risk-off session to underpin the USD nL1N2Q91SZnL1N2Q9216

  • EUR/USD still trending higher as 5, 10 and 21-day MAs in bullish alignment

  • Price action this week starting to place trend in jeopardy

  • EUR/USD made a lower high for 2nd day after 10 days of higher highs

  • Price action suggests upward momentum waning and consolidation ahead

  • Resistance is at the double-top formed at 1.1909

  • Support at 10-day MA at 1.1830 and close below suggests top in place

  • More support is found at the 21-day MA at 1.1781

  • ECB decision Thursday next key event

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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