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Aug 29 - 08:55 PM

EUR/USD - Opens Higher After Big Fall In US Yields

By John Noonan  —  Aug 29 - 07:00 PM
  • EUR/USD completed a bullish outside day reversal after a whippy session

  • It closed 0.56% higher after weak US data prompted a big fall in US yields nL1N3AA27T

  • Resistance is at 21-day MA @ 1.0903 and break would signal end of down-trend

  • A break above 1.0905 targets the 38.2 of 1.1276/1.0765 at 1.0960

  • Support is at the 10-day MA at 1.0853 and break would ease upward pressure

  • EUR/USD benefiting from view the end of Fed tightening cycle may be at hand

  • Market reactive to all data and US NFPs Friday to decide if view is valid

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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