Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Sep 06 - 08:55 PM

EUR/USD - Trending Lower But Bids Ahead Of 1.0700 Support For Now

By John Noonan  —  Sep 06 - 07:10 PM
  • EUR/USD opens little changed around 1.0725 as USD remains broadly bid

  • Bids ahead of 1.0700 helped to underpin with the low at 1.0703

  • EUR/USD rally capped at 1.0749 before US yields rose on hot US ISM services nL1N3AI1UR

  • EUR/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Resistance is at former trend-line support at 1.0784

  • More resistance @ 10-day MA @ 1.0800 and break would ease downward pressure

  • A clear break below 1.0700 targets the May 31 low at 1.0635

  • EUR/USD bears remain in control while US yields remain elevated

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!