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