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Jan 05 - 10:55 PM

EUR/USD - Consolidates Above 1.0500 Ahead Of Key US Payrolls

By John Noonan  —  Jan 05 - 10:05 PM
  • EUR/USD opened -0.80% at 1.0520 after USD rose on strong ADP jobs data nL1N33Q274

  • In a quiet Asian session it could only manage a 1.0520/33 range

  • Asia was relatively upbeat despite the weak lead from Wall Street nL1N33R03G

  • EUR/USD likely to drift ahead of key US non-farm payrolls later today

  • Resistance is at the 21-day MA at 1.0608 and 10-day MA at 1.0613

  • Bids are tipped ahead of 1.0500 with a double bottom at 1.0515/20

  • A break below 1.0500 targets the 55-day MA at1.0368

  • EUR/USD vulnerable if US jobs data is stronger than expected

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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