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May 25 - 08:55 PM

EUR/USD - Firm In Early Asia After Lower Daily Close

By John Noonan  —  May 25 - 07:40 PM
  • EUR/USD opened -0.50% at 1.0680 and has firmed to 1.0690 in early trading

  • It traded as low as 1.0642 before moving up late on easing US yields

  • EUR/USD found buyers at former resistance at the May 5 high at 1.0642

  • Fed minutes confirmed Fed hawkish outlook, but was within expectations

  • EUR/USD trending, as 5, 10 & 21-day MAs in bullish alignment

  • A break below the 10-day MA at 1.0581 would put trend in jeopardy

  • Resistance is at the 55-day MA at 1.0775 and 38.2 fibo at 1.0786

  • A break above 1.0800 would confirm the trend higher has legs

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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