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Mar 08 - 10:55 PM

EUR/USD - Recovers From Early Low As US Yields Ease

By John Noonan  —  Mar 08 - 09:50 PM
  • EUR/USD opened 0.50% lower at 1.1848 after USD broadly gained on yield focus nL1N2L61JE

  • After it traded at 1.1855 it came under pressure and traded down to 1.1834

  • The US 10-year yield started to ease and moved down t0 1.56% from 1.59%

  • This has taken some pressure off the EUR/USD and its back around 1.1850

  • Key support is at the 200-day MA at 1.1823 and break would be bearish

  • A close below 1.1820 would put the Nov trend low around 1.1600 in focus

  • Resistance is at former support at 1.1950/55 where wellers are tipped

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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