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Mar 10 - 07:55 PM

EUR/USD - Soft Start After Closing Friday Slightly Lower

By John Noonan  —  Mar 10 - 06:25 PM
  • EUR/USD trading 1.0935/40 after closing Friday -0.08% at 1.0940

  • EUR/USD spiked to 1.0980 in wake of US jobs report when US yields fell nL2N3FM1EQ

  • US yields rebounded through US session and USD bounced back from the lows nL2N3FM1O5

  • Market will now look ahead to US CPI data to be released on Tuesday

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

  • Support is @ 10-day MA @ 1.0876 and break would suggest momentum is fading

  • Resistance is at Friday's 1.0980 high where selling is tipped

  • A break above 1.0980 targets the 61.8 of the Dec-Feb fall at 1.1034

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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