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
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Source:
Refinitiv IFR Research/Market Commentary