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Jan 03 - 11:55 PM

EUR/USD - Firms In Asia As Risk Assets Bounce Back

By John Noonan  —  Jan 03 - 10:10 PM
  • EUR/USD opened -1.1% at 1.0548 after USD broadly strengthened nL1N33O1HB

  • After dipping to 1.0541 it tracked higher when Asian markets rallied nL4N33P0A0

  • EUR/USD traded to 1.0569 before settling around 1.0565 into the afternoon

  • Resistance is at former support at the 21-day MA at 1.0607

  • A break above 1.0610 would relieve downward pressure

  • Support is at yesterday's 1.0519 low with buyers tipped ahead of 1.0500

  • The close below the 21-day MA suggests a short-term top is in place

  • A break below 1.0500 targets the 55-day MA at 1.0342

  • Fed minutes later today will be the main event for markets

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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