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May 27 - 11:00 PM

EUR/USD - Heavy Tone In Asia Ahead Of Key EU Summit

By John Noonan  —  May 26 - 11:35 PM
  • EUR/USD opened 0.80% higher at 1.0882 after failing to reclaim 1.100

  • After trading 1.0985 early, the EUR/USD slipped lower during the morning

  • It traded as low as 1.0955 before settling around 1.0960

  • Asia had a risk-off feel early, as China-Hong Kong tension weigher nL4N2D908D

  • Hang Seng moved lower, but other Asian markets and S&P futures edged higher

  • Key event today will be EU summit on the Franco-German relief plan

  • EUR/USD resistance at the 200-day MA at 1.1011 and break targets 1.1148

  • Support is found at the 10-day MA around 1.0915 and 21-day MA at 1.0887










Source:
Refinitiv IFR Research/Market Commentary

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