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Feb 08 - 11:55 PM

EUR/USD - Breaks Higher As 10-Day MA Gives Way

By John Noonan  —  Feb 08 - 09:49 PM
  • EUR/USD opened flat around 1.2050 and moved higher through the morning

  • The break above the 10-day MA at 1.2065 encouraged fresh buying

  • The high has been 1.2080 and it trading just below that level

  • Key resistance is @ 1.2100/05 where the 21-day MA converges with a 38.2 fibo

  • A break of 1.2105 would mark end of the trend lower that started early Jan

  • The USD has been on the defensive since the weak US jobs data Friday nL4N2KF03Q

  • Expectations of US fiscal package helping risk assets and weighing on USD

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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