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Sep 29 - 08:55 PM

EUR/USD - Opens Higher As Shorts Cover Ahead Of Quarter-End

By John Noonan  —  Sep 29 - 06:50 PM
  • EUR/USD opens 0.68% higher at 1.1744 after USD broadly weakened

  • EUR/JPY buying underpinned EUR/USD through Europe and US sessions

  • EUR/USD close above 10-day MA (1.1727) shifts pressure to the topside

  • Break above 38.2 of 1.2014/1.1612 at 1.1733 targets 1.1765/70

  • The 55-day MA and 50% retracement of aforementioned move converge @1.1765/70

  • Market may be impacted by Trump-Biden debate at 01:00

  • Month-end and quarter-end flows also to impact EUR/USD direction

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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