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Feb 16 - 10:55 PM

EUR/USD - Settles Below 1.2100 After Early Run Lower

By John Noonan  —  Feb 16 - 10:02 PM
  • EUR/USD opened 0.17% lower at 1.2104 after reversing lower in NY session

  • A sharp rise in US yields was the tipping point for the EUR/USD nL1N2KM1QH

  • EUR/USD spiked to 1.2083 early Asia when stops below 1.20965 were triggered

  • It steadied when buyers emerged and it was 1.2095 heading into the afternoon

  • EUR/USD was helped by the 10-year US yield easing to 1.29% from 1.33% early

  • Support is at the 10-day MA at 1.2087 and 38.2 fibo at 1.2086

  • Sellers tipped above 1.2120 and break above 12145 eases downward pressure

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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