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Jun 21 - 03:48 PM
EUR/USD - Bulls Take On Key Resistance
First appeared on eFXplus on Jun 21 - 01:25 PM
  • Upbeat DE,FR & EZ PMI data & downbeat US PMI help tighten DE-US spreads
  • EUR broadly bid despite early US$ strength, EUR/USD lifts
  • Early US$ gains fade, soft data effect emerges, EUR/USD buoyed
  • EUR/USD nears 200-DMA & June high late in the day, little pullback seen
  • Techs are bullish, RSIs rise, daily cloud supports & new 4-day high set
  • EUR/USD shorts battle but face mounting risks
  • Break & close above 200-DMA & June high puts 1.1450/60 zone in play

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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