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Jan 19 - 05:55 PM

EUR/USD - Opens Higher On Risk Rally And Better German Data

By John Noonan  —  Jan 19 - 05:17 PM
  • EUR/USD opens 0.44% higher as USD broadly weakened and EUR outperformed

  • Better than expected German Zew broadly supported EUR nL8N2JU2A9

  • USD weakness tied to risk rally based on US stimulus hopes nL1N2JU22E

  • EUR/USD S/T trend lower intact as 5, 10 and 21-day MAs in bearish alignment

  • A break above the 10-day MA at 1.2156 would suggest downward momentum waning

  • Ascending 55-day MA (1.2066) validated as key support by recent price action

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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