By John Noonan — May 09 - 07:20 PM
EUR/USD opens -0.40% after USD broadly firmed ahead of US CPI nL1N376351
Trend higher ended after close below 21-day MA at 1.0997
The 5 & 10 day MAs tilting lower now as upward momentum fades
The next support of note is the 38.2 of the 1.0516/1.1096 move at 1.0874
EUR/USD longs pared back ahead of US CPI data later today
If it is hotter than expected it may reduce chances of Fed cuts in 2023
EUR/USD resistance is at the 21-day MA at 1.0997 and 10-day MA at 1.1004
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary