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May 10 - 05:55 PM

EUR/USD - The 10-DMA Remains Magnetic, Tight Range Before Inflation Data

By Christopher Romano  —  May 10 - 02:20 PM
  • EUR/USD hit 1.0585 in Europe's am, NY opened near 1.0560, lifted in early NY

  • 1.0575 traded early NY but a drop ensued as US ratesEDM3US2YT=RR bounced

  • EquitiesESv1, commoditiesHGv1 fell as investors sought safer assets

  • EUR/JPY dropped to 137.04 on EBS, EUR/USD fell to 1.05255 on EBS

  • Equity rally into positive territory helps lift EUR/USD toward 1.0540 late

  • Falling RSIs, consolidation of fall from March high are bearish tech signals

  • China, German, US April inflation data are key risks for Wednesday

  • EUR/USD might be possible after US inflation nL2N2X21GL

  • For more click on FXBUZ




eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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