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Mar 14 - 08:55 PM

EUR/USD - Opens Lower As Market Positions For Less Dovish Fed

By John Noonan  —  Mar 14 - 06:35 PM
  • EUR/USD opens -0.60% after higher US yields finally sparked USD buyingnL2N3FS226

  • Hotter US PPI added to recent rise in US yields that followed US CPI

  • The 2-year US yield has rising over 25 bps since last Friday

  • The EUR/USD closed below the 10-day MA at 1.0906 to warn a top has formed

  • Support is at the 38.2 of Feb-March rise at 1.0872 and 21-day MA at 1.0860

  • A close below 1.0860 would shift the pressure to the downside

  • Resistance is at the 10-day MA at 1.0906 where selling is tipped

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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