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May 08 - 07:55 PM

EUR/USD - Edges Lower In Gloomy Start To The Week

By John Noonan  —  May 08 - 07:15 PM
  • EUR/USD Trading around 1.0535 after closing at 1.0547 on Friday

  • Despite choppy trading EUR/USD was virtually unchanged for the day and week

  • USD firm in early Asia as E-minis are -0.60% in gloomy start to the week

  • Buyers below 1.0500 managed to cushion EUR/USD when it was under pressure

  • EUR made gains last week against most major currencies

  • EUR/USD resistance is at the 10-day MA at 1.0551 and 21-day MA at 1.0691

  • Support formed ahead of 1.0465 and break below opens up move to 1.0340 trend low

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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