By John Noonan — May 02 - 12:00 AM
EUR/USD opened +0.44% @ 1.0713 after US yields eased in wake of Fed decision nL1N3H42A5
A plunge lower in USD/JPY on suspected intervention also weighed on USD nL1N3H42TN
EUR/USD traded in a 1.0707/20 range while USD/JPY continued to whipsaw
Heading into the afternoon the EUR/USD is unchanged at 1.0710/15
EUR/USD support is at the 10-day MA @ 1.0694 and a close below adds pressure
Resistance is at the April 26 high at 1.0753 and 200-day MA at 1.0800
EUR/USD may consolidate ahead of the US non-farm payrolls on Friday
Short-term bias is bullish while US yields correct lower
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Source:
Refinitiv IFR Research/Market Commentary