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Jan 01 - 05:55 PM

EUR/USD - Edging Higher After Easing From Highs Into Year-End

By John Noonan  —  Jan 01 - 05:10 PM
  • EUR/USD edging higher in early Asia in a quiet start to 2024

  • It fell 0.90% from Thursday's 1.1139 high to close year at 1.1038

  • Move lower helped correct extremely overbought readings on daily slow stochs

  • EUR/USD trending higher with the 5. 10 & 21-day MAs in a bullish alignment

  • Support @ 10-day MA a@ 1.1026 and close below would war of deeper correction

  • Key support is down at the 21-day MA at 1.0926

  • Resistance is at Dec 28 high at 1.1139 and break targets 2023 high at 1.1276

  • EUR/USD may consolidate ahead of key US data to be released later in week nL4N3DN0CM

  • The key event for the week will be US non-farm payrolls on Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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