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Jul 05 - 01:55 AM

EUR/USD - Steady With Bid Tone In Upbeat Asian Session

By John Noonan  —  Jul 04 - 11:55 PM
  • EUR/USD opened unchanged at 1.0427 after quiet holiday affected session

  • The mood in Asia was upbeat and the EUR/USD traded up to 1.0438

  • E-minis and the AXJ index are up 0.40% while the Nikkei is up 0.70%

  • Heading into the afternoon the EUR/USD is settled around 1.0435

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

  • Resistance is @ the 10-day MA @ 1.0495 and break would ease the pressure

  • Support is at yesterday's 1.0418 low with key support at 1.0340/60

  • The trend lower suggests selling rallies is the favoured strategy

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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