By John Noonan — Dec 05 - 10:15 PM
EUR/USD opened -0.44% @ 1.0492 after USD reversed higher on stronger US data nL1N32V1DE
It moved up to 1.0518 early Asia as USD eased when Asian markets steadied
Heading into the afternoon it eased back to 1.0500/05
The hawkish turn in Fed expectations forcing EUR/USD bulls to pause
It is trending higher with the 5, 10 & 21-day MAs in a bullish alignment
Support is at the 10-day MA at 1.0434 and break would warn top is forming
More support is at the 200-day MA at 1.0360, which may be a pivot point
Resistance is at the June 27 high at 1.0615 with sellers ahead of 1.0600
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary