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May 16 - 08:55 PM

EUR/USD - Opens Slightly Lower As US Yields Rise On Data

By John Noonan  —  May 16 - 07:30 PM
  • EUR/USD eased slightly on Wednesday after rally above 1.0900 stalled

  • It traded 1.0904 before solid US retail sales sent US yields higher nL8N37D5P0

  • EUR/USD found buyers around 1.0855 before setting around 1.0860

  • It is trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Resistance is at the 10-day MA at 1.0934 and 21-day MA at 1.0971

  • Support at 1.0806 where the 100-day MA and 50% of March-April rise converge

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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