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Dec 19 - 07:55 PM

EUR/USD - Opens Higher As German IFO And EUR/JPY Demand Underpin

By John Noonan  —  Dec 19 - 06:25 PM
  • EUR/USD opens +0.24% after getting a boost from better German IFO nL1N3391ND

  • EUR/JPY short-covering also gave support as the cross rose 0.38%

  • EUR/USD trend higher starting to stall as 5-day MA tilts lower

  • Support @ 10-day MA (1.0573 Monday) held on dip and moved up to 1.0587 today

  • Close below the 10-day MA would warn the trend higher may be near completion

  • More support is at 21-day MA at 1.0500 and break would suggest top in place

  • Key resistance is at the 61.8 of 2022 fall at 1.0743

  • Key in Asia will be EUR/JPY flows as BOJ meets today

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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