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