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Jan 04 - 07:55 PM

EUR/USD - Opens Higher On Higher EZ Yields And EUR/JPY Buying

By John Noonan  —  Jan 04 - 06:05 PM
  • EUR/USD opens +0.20% after getting support from EUR/JPY demand

  • EZ yields moved higher after hot EZ inflation to offset rise in US yields nL1N3DU0IXnL1N3DU21Z

  • EUR/USD trading just below 21-day MA at 1.0953 with the 10-day MA at 1.1007

  • A break above 1.1010 would shift the pressure to the upside

  • EUR/USD starting to correct extreme over-sold readings on the Slow Stochs

  • Asia likely to be quiet ahead of key US non-farm payrolls later today

  • Support is at the 38.2 of the Oct-Dec rise at 1.0875

Source:
Refinitiv IFR Research/Market Commentary

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