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May 02 - 08:55 PM

EUR/USD - Friday's Fall Suggests Waning Upside Momentum

By John Noonan  —  May 02 - 07:11 PM
  • EUR/USD fell 0.82% Friday after USD-positive month-end flows weighed

  • The close below the 10-day MA (1.2065) suggests upward momentum is waning

  • Support is at the 21-day MA at 1.1993 and 38.2 of 1.1704/1.2150 at 1.1779

  • The 10-day MA at 1.2065 is resistance and break would ease downward pressure

  • The 5, 10 & 21-day MAs remain in bullish alignment but 10-day tilting lower

  • EUR/USD likely to consolidate in narrow range in Asia awaiting fresh clues

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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