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Apr 20 - 01:55 AM

EUR/USD - : Breaks Above 100-Day MA As USD Remains On Defensive

By John Noonan  —  Apr 19 - 11:36 PM
  • EUR/USD opened 0.43% higher at 1.2035 after USD broadly fell nL1N2MC1VQ

  • The completion on Monday of a bullish outside day set the stage for a rally

  • After a quiet start it has broken the 100-day MA at 1.2058 and traded 1.2071

  • The USD remained offered in Asia - led by a 0.50% rise in the AUD/USD

  • Break above the 100-day targets the 61.8 of 0f 1.2849/1.1704 at 1.2102

  • Support is at former resistance at 1.1900/1.2000 where buying is tipped

  • Short-term trend higher confirmed as 5, 10 & 21-day MAs in bullish alignment

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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