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May 15 - 08:55 PM

EUR/USD - Modest Recovery But Still Trending Lower

By John Noonan  —  May 15 - 07:10 PM
  • EUR/USD opens +0.23% after USD and JPY eased across the board

  • Modest risk rally encouraged USD selling and EUR/JPY gains nL1N37C32U

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

  • Resistance is at the 10-day MA at 1.0955 and 21-day MA at 1.0977

  • Support is at the 50% of the 1.0516/1.1096 move at 1.0806

  • EUR/USD consolidation likely to continue ahead of US retail sales Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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