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May 17 - 01:55 AM

EUR/USD - Steady In Asia As Settling Markets Weigh On USD

By John Noonan  —  May 17 - 12:05 AM
  • EUR/USD opened +0.22% at 1.0435 as USD eased against most currencies nL2N2X81ZD

  • Equity markets were firm in Asia with the AXJ index rising 1.4%

  • USD weakened against risk currencies while the EUR/USD was steady

  • It traded in a 1.0429/55 range and is 1.1440/45 into the afternoon

  • EUR/USD trending lower with the 5. 10 and 21-day MAs in a bearish alignment

  • Resistance is at 10-day MA @ 1.0498 and break would warn momentum is slowing

  • Support @ yesterday's 1.0384 low and break would increase downward pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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