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Mar 05 - 11:55 PM

EUR/USD - Consolidates In Asia Ahead Of Powell Testimony

By John Noonan  —  Mar 05 - 10:10 PM
  • EUR/USD opened unchanged at 1.0856 and traded in a 1.0842/59 range

  • Heading into the afternoon it is steady at 1.0850/55

  • Market on hold ahead of Powell testimony today and ECB decision tomorrow

  • Resistance is at the 55-day MA at 1.0876 and last week's 1.0889 high

  • EUR/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • A break above 1.0900 would confirm the trend higher is valid

  • Support is at the 21-day MA at 1.0804 and break would shift pressure lower

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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