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May 10 - 08:55 PM

EUR/USD - Opens Lower As US Yields Rise And Risk Assets Fall

By John Noonan  —  May 10 - 06:48 PM
  • EUR/USD opens -0.28% as USD firmed when Wall Street fell and US yields firmed nL1N2MX2E8nL1N2MX208

  • EUR/USD also weighed down by heavy EUR/GBP selling nL1N2MX0EN

  • EUR/USD topped out at 10-week high at 1.2178 before falling in US afternoon

  • Resistance at 76.4 of 1.2349/1.1704 at 1.2196 validated by price action

  • Support is at 10-day MA at 1.2084 and break would suggest waning momentum

  • EUR/USD still trending higher with 5, 10 & 21-day MAs in bullish alignment

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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