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Aug 12 - 08:55 PM

EUR/USD - Opens Slightly Lower As Data Underpins USD

By John Noonan  —  Aug 12 - 07:12 PM
  • EUR/USD opens slightly lower as USD firmed after hot US PPI nL1N2PJ22X

  • Sellers at 1.1750 capped rallies while strong support formed under 1.1700

  • Market seeks a fresh catalyst, as range trading still dominates FX

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

  • A break above the 10-day MA at 1.1782 would put trend in doubt

  • Key fibo support is at the 38.2 of the entore 1.0636/1.2349 move at 1.1694

  • Range trading likely in Asian after Thursday's inside trading day

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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