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Jul 20 - 09:55 PM

EUR/USD - Opens Lower As Down-Trend Crawls At Snail's Pace

By John Noonan  —  Jul 20 - 07:45 PM
  • EUR/USD opens 0.16% at 1.1780 after recovery from 4 month low at 1.1755

  • USD broadly firmer despite recovery in some risk assets nL1N2OW2D4

  • EUR/USD trend lower continues with 5, 10 &21-day MA in bearish alignment

  • The trend lower is moving at a glacial pace - with buyers all the way down

  • Objective of the current move is the 2021 low at 1.1704

  • Resistance is at the 10-day MA at 1.1817 and break eases downward pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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