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May 30 - 08:55 PM

EUR/USD - Opens Unchanged As Trend Higher Shows Signs Of Stalling

By John Noonan  —  May 30 - 07:30 PM
  • EUR/USD opens flat around 1.2195 after recovering from daily low at 1.2133

  • Low came after hotter than expected US core-PCE inflation data nL2N2NF13V

  • US yields slipped from highs during US session to undermine early USD gains nL2N2NF1ZC

  • EUR/USD trend higher showing signs of exhaustion since hitting 1.2263

  • A close below 21-day MA at 1.2147 would confirm end of trend higher

  • Resistance is at 10-day MA at 1.2205 and close above would encourage bulls

  • EUR/USD should remain in quiet range in Asia ahead of NY and Lon holiday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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