By John Noonan — Mar 08 - 09:50 PM
EUR/USD opened unchanged around 1.0545 and traded 1.0538/53
Heading into the afternoon it is unchanged around 1.0545
Market is reluctant to shift ahead of key US non-farms on Friday
A 50 bop Fed hike on March 22 is nearly 80% priced in
The risk for EUR/USD bears is softer US jobs data
Close support is at he 100-day MA at 1.0526 with Wednesday low at 1.0524
A break below 1.0520 targets the 38.2 of 0.9528/1.1034 move at 1.045
Resistance is at the 10-day MA at 1.0595 and break would ease the pressure
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Source:
Refinitiv IFR Research/Market Commentary