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Jun 23 - 01:55 AM

EUR/USD - Ends Morning Higher As Navarro Comments Dismissed

By John Noonan  —  Jun 22 - 11:35 PM
  • EUR/USD opened 0.73% higher as buoyant risk weakened USD and JPY nL1N2DZ1WS

  • It fell to 1.1233 when WH advisor Navarro said Chins trade deal was dead nL1N2E000P

  • Move lower proved short-lived after White House walked back the comments nL1N2E0050nL1N2E0050

  • EUR/USD recovered to 1.1280 and was around 1.1270 into the afternoon

  • Resistance is at the 50% retracement of the 1.1422/1.1168 move at 1.1295

  • Break above 1.13000 targets the 61.8 of that move at 1.1325

  • Support is at the 21-day MA at 1.1221 and break eases upward pressure

  • EZ flash PMI is on tap for later today










Source:
Refinitiv IFR Research/Market Commentary

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