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May 22 - 09:55 PM

EUR/USD - Tight Ranges Prevail As Market Waits For Fresh Catalyst

By John Noonan  —  May 22 - 07:35 PM
  • EUR/USD opens a few pips higher after trading in an extremely tight range

  • FX market waiting on news from DC on debt ceiling talks

  • Key data later today and the rest of week also hoped to provide direction

  • EUR/USD trending lower with the 5, 10 &21-day MAs in a bearish formation

  • Resistance is at the 10-day MA at 1.0852 and break would ease pressure

  • Support is at the 61.8 of the 1.0516/1.1096 move at 1.0737

  • EZ and US Flash PMI later today may spark some action in the EUR/USD

  • Expect more range trading in Asia in the meantime

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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