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Jan 10 - 10:55 PM

EUR/USD - On The Brink Of Upside Break Ahead Of U.S. CPI

By John Noonan  —  Jan 10 - 09:55 PM
  • EUR/USD opened +0.38% at 1.0972 after benefiting from EUR/JPY demand

  • It moved up to 1.0985 in early Asia before settling at 1.0975/80

  • It touched above the 21-day MA at 1.0983 and close above would be bullish

  • A break above 1.1000 targets the Dec 28 high at 1.1139

  • Support is at an up-trend line at 1.0907 and 38.2 fibo at 1.0885

  • EUR/USD poised to move higher, but market may wait for US CPI

  • A soft US inflation read could see EUR/USD resume trending higher

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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