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Jun 12 - 08:55 PM

EUR/USD - Opens Just Above 1.0500 After Friday's Plunge

By John Noonan  —  Jun 12 - 06:35 PM
  • EUR/USD fell over 1.0% Friday after hot US CPI sent short-end US yields soaring nL1N2XX1NW

  • Hopes inflation has peaked dashed as market looks for aggressive Fed hikes

  • EUR.USD closed just below the 61.8 of the 1.0349/1.0787 move at 1.0516

  • Talk of bids around 1.0500 underpinning EUR/USD for now

  • A clear break below 1.0500 puts the 2022 low at 1.0349 in focus

  • Resistance is at the 21-day MA at 1.0646 and a break would ease the pressure

  • Fo

  • r more click on FXBUZ











Source:
Refinitiv IFR Research/Market Commentary

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