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Aug 11 - 08:55 PM

EUR/USD - Opens Higher But Fails Ahead Of Key Resistance

By John Noonan  —  Aug 11 - 07:10 PM
  • EUR/USD opens +0.20% after trading as high as 1.0364 before pulling back

  • Higher US yields helped to cap gains made following softer US PPI nL1N2ZN22A

  • EUR/USD stopped short of taking out the 50% of 1.0787/0.9951 at 1.0369

  • The 55-day MA descends to 1.0366 from 1.0373 to bolster resistance

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

  • Bids are tipped ahead of 1.0250 with support at 10-day MA at 1.0238

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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