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Aug 11 - 01:55 AM

EUR/USD - Firms Slightly In Quiet Asian Session

By John Noonan  —  Aug 10 - 11:40 PM
  • EUR/USD opened 1.0981 after a volatile US session in wake of US CPI nL1N39R1CK

  • It firmed to 1.0998 before settling around 1.0990 into the afternoon

  • Japan holiday limited action, but EUR/JPY remained close to 15-year high

  • EUR/USD resistance at 10-day MA at 1.1053 - descending from 1.1065 Thursday

  • A close above 1.1055 would suggest a bottom has formed

  • Support is at the 100-day MA at 1.0930 and close below would be bearish

  • A close below 1.0930 targets the 61.8 of 1.0635/1.1276 move at 1.0879

  • Key will be moves in US yields after they bounced Thursday despite tame US CPI

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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