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Oct 26 - 02:55 AM

EUR/USD - Edges Lower As E-Minis Fall And Underpin USD

By John Noonan  —  Oct 25 - 11:20 PM
  • EUR/USD opened +0.94% at 0.9969 after US yields eased on weak US data nL1N31Q29Y

  • USD attained a bid tone when E-minis fell 1% on Alphabet after hours miss nL4N31Q42G

  • EUR/USD eased to 0.9943 before settling around 0.9955

  • Outlook for EUR/USD brightened after down-trend line at 0.9942 gave way

  • It is trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.9842 and 21-day MA at 0.9814

  • EUR/USD sellers are around 1.0000 with break targeting 100-day MA at 1.0093

  • It will likely remain bid while market perceives Fed as scaling back rate hikes after November

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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