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Apr 13 - 09:55 PM

EUR/USD - Opens Higher After Vicious Reversal From Trend Low

By John Noonan  —  Apr 13 - 07:40 PM
  • EUR/USD opens 0.62% higher after reversing from 1.0809 low

  • It came within 3 pips of the March 7 trend low at 1.0806

  • Reversal due to fall in US yields on belief US inflation close to peak

  • Resistance is at the 10-day MA at 1.0907 and 21-day MA at 1.0978

  • Support at March 7 trend low at 1.0806 validated by the price action nL2N2WB1T0

  • Market not willing to go too short ahead of ECB meeting later today

  • Many analysts are looking for a hawkish pivot from ECB President Lagarde

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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