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Sep 04 - 01:55 AM

EUR/USD - Drifts Higher As Risk Rally Weighs On USD

By John Noonan  —  Sep 03 - 11:35 PM
  • EUR/USD opened 1.0775 - falling 0.65% Friday in whippy reaction to US NFPs nL1N3AD1IQ

  • In a quiet Asian session it rose to 1.0785/90 as risk assets gained in Asia nL4N3AG03E

  • Support is @ a trend-line @ 1.0777 - even though it was slightly breached

  • More support is at the Aug 25 low at 1.0765 and break would be bearish

  • Resistance is at the 10-day MA at 1.0832 and 21-day MA at 1.0881

  • The weak close on Friday has put EUR/USD bears back in control

  • EUR/USD likely to consolidate with US Labor Day holiday today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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