By John Noonan — May 08 - 10:25 PM
EUR/USD has eased below 1.0990 and is below 21-day MA at 1.0996
The next support is at Friday's low @ 1.0967 hit after US non-farm payrolls
Market is long EUR/USD as evidenced by IMM data showing net longs at 170K
Multiple fails ahead of 1.1100 frustrating EUR/USD bulls
A close below the 21-day MA would signal end of short-term trend higher
A break below 1.0965 targets the 38.2 of the 1.0516/1.1096 move at 1.0874
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary