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Apr 26 - 11:55 PM

EUR/USD - Drifts Lower As USD Broadly Firms In Asia

By John Noonan  —  Apr 26 - 11:33 PM
  • EUR/USD opened 0.08% lower at 1.2086 after topping out in Asia at 1.2117

  • In quiet trading, the EUR/USD drifted down to 1.2065 before finding support

  • Heading into the afternoon it was trading around 1.2070

  • USD broadly firmed in cautious Asian session as shorts pared back

  • EUR/USD bulls may be taking a breath before Wednesday's FOMC

  • A trend-line from the 1.2349 high comes in at 1.2117 and is key resistance

  • Support is at the 10-day MA at 1.2030 and break eases upward pressure

  • EUR/USD is trending higher but may need a dovish Fed to regain momentum

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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