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May 19 - 06:12 PM

EUR/USD - Opens Higher On Risk Rally And EU Package Hopes

By John Noonan  —  May 18 - 06:55 PM
  • EUR/USD gained traction of French-German proposal to bolster EU fund nL8N2D0549

  • Move higher also supported by broad USD & JPY weakness as risk assets soared

  • EUR/USD testing 61.8 of 1.1019/1.0766 @ 1.0922 with high on this move 1.0927

  • More resistance at 55-day MA @ 1.0933 and break targets 100-day MA at 1.0971

  • Support at the 21-day MA at 1.0851 and the 10-day MA at 1.0840

  • EUR/USD likely to consolidate in Asia with EUR/JPY flows dictating direction










Source:
Refinitiv IFR Research/Market Commentary

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