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Mar 01 - 11:55 PM

EUR/USD - Under Increased Pressure As E-Minis Turn Negative

By John Noonan  —  Mar 01 - 10:02 PM
  • EUR/USD opened 0.17% lower at 1.2049 after strong US ISM underpinned USD

  • EUR/USD failed to lift when E-minis and Asian equities moved up early

  • E-minis drifted back into negative territory and USD moved broadly higher

  • EUR/USD fell below the 100-day MA at 1.2027 and Feb 17 low at 1.2023

  • Low so far is 1.2015 and it is hovering just above into the afternoon

  • The next support of note is the Feb 5 low at 1.1952

  • The break below the 100-day MA suggests a top is in at 1.2243

  • EUR/USD needs to break back above 10-day MA at 1.2103 to avoid deeper fall

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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