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Apr 27 - 02:55 AM

EUR/USD - Remains Under Pressure And Clings To 2020 Low

By John Noonan  —  Apr 27 - 12:35 AM
  • EUR/USD opened -0.70% at 1.0637 after EUR fell against USD and JPY

  • It tried to rally early Asia before running into sellers at 1.0652

  • EUR/USD traded to a 5-year low at 1.0633 but there was no follow-through

  • Heading into the afternoon it is trading 1.0635/40 with a heavy tone

  • A sustained break below 1.0620 targets eventual move to 2017 low at 1.0340

  • EUR/USD trending lower with the 5, 10 and 21-day MAs in a bearish alignment

  • A break above the 10-day MA at 1.0769 is needed to ease the pressure

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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