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May 06 - 08:55 PM

EUR/USD - Opens Higher As Risk Assets Soar And Weigh On USD

By John Noonan  —  May 06 - 06:42 PM
  • EUR/USD opens 0.50% higher as rise in risk assets sparked USD selling nL1N2MT1O5

  • Wall Street closed higher and some key metals soared to major levels nL1N2MT2TI

  • EUR/USD rally stalling around the 10-day MA at 1.2065

  • A break above 1.2070 opens the way for a test of the April 29 1.2150 high

  • Support is at the 21-day MA at 1.2026 and break eases upward pressure

  • Price action validates support at the 38.2 of 1.1704/1.2150 move at 1.1979

  • EUR/USD likely to consolidated ahead of key US payroll report later today

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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