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Dec 05 - 11:55 PM

EUR/USD - Pivots Around 1.0500 In Calm Asian Session

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

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