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May 05 - 03:55 PM

EUR/USD - Pares Gain Though Holds Key Support

By Robert Fullem  —  May 05 - 01:45 PM

• EUR/USD trims session gain amid slight risk tone improvement, softer CNH

• Trsy Scty Bessent sees policies getting 3% growth, downplays mkt turbulence

• IMF head says been vocal about China's need to boost consumption

• Euro's drop is in light turnover due to multiple holidays including in UK

• DXY remains lower before two-day Fed; FX havens and gold outperform

• EUR/USD forms inverted hammer above key support at 21-DMA of 1.1295

• Supp: 1.1242 April 10 high; 1.1147 April 3 high

• Resist: 1.1425 April 28 high; 1.1573 April 21 high
EUR


(Robert Fullem is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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