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May 30 - 01:55 AM

EUR/USD - Ends Morning Flat After Early Gains Fade

By John Noonan  —  May 29 - 11:40 PM
  • EUR/USD opened 1.0735 after closing Friday little changed despite soft USD nL2N2XJ1KH

  • USD eased early Asia as Asian equity markets moved higher in risk-on session nL4N2XM03Q

  • EUR/USD rose to 1.0755 before offers @ 1.0765/70 discouraged attempts higher

  • Heading into the afternoon it is back to the opening level at 1.0735/40

  • Resistance is at the 55-day MA at 1.0769 and 38.2 of 2022 move at 1.0786

  • A break above 1.0790 should encourage fresh buying and accelerate up-trend

  • Support is at the 10-day MA at 1.0647 and break would ease upward pressure

  • Trend is higher, but resistance at 1.0765/90 needs to break soon

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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