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Feb 28 - 12:12 AM

EUR/USD - Eases After Second Fail Above 1.1000

By John Noonan  —  Feb 27 - 10:15 PM
  • EUR/USD moved higher early Asia when Wall Street melted down into the close nL3N2AR5DK

  • It traded to 1.1005 before sellers capped and then edged down to 1.0985

  • Resistance is found at the 50% of the 1.1240/1.0778 move at 1.1009

  • A break above 1.1010 targetst he 61.8 of that move at 1.1063

  • EUR/USD supported by extreme dovish shift in Fed expectations nL2N2AR10V

  • Also supporting is unwinding of carry trades and short EUR/USD vol nL3N2AR5LDnL4N29M3KY

  • Support at the 21-day MA @ 1.0913 and break would suggest correction waning






eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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