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May 29 - 10:55 PM

EUR/USD - Poised Below Strong Resistance, As Soft USD Supports

By Andrew M Spencer  —  May 29 - 08:35 PM

  • Off 0.05% after closing little changed on Friday - euro fundamentals weigh

  • May EUR rebound USD led, as U.S. recession fears diminish nL2N2XJ11N

  • U.S. holiday on Monday often results in tight FX ranges in Asia

  • EU struggling to find a compromise on Russia oil embargo nL8N2XL0HH

  • Charts; mixed momentum studies, 5, 10 and 21 day moving averages head higher

  • 21 day Bollinger bands expand - net positive setup below pivotal resistance

  • Targets a test of 1.0786, 38.2% 2022 fall - close above would be bullish

  • 1.0675 1.292 BLN, 1.0725 624 MLN, 1.0800 759 MLN are Monday's close strikes

    For more click on FXBUZ


eur May 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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