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May 08 - 11:55 AM

EUR/USD - Pinned To 1.0750, Tight Ranges Prevail

By Justin Mcqueen  —  May 08 - 10:50 AM
  • EUR/USD flat, low vol backdrop prompts narrow range (1.0735-57)

  • 200-DMA (1.0795) remains a stumbling block. Break would entice bulls

  • Abundance of EUR/USD option expiries around 1.0750 may have a pinning effect

  • Thus, the pair may continue to trade close to current levels

  • Slew of Fed speakers (Jefferson, Collins, Cook) unlikely to move the needle

  • Narrative vacuum until U.S. CPI (May 15) can see tight ranges hold

  • EUR/USD also fairly valued relative to EZ/US yield spreads

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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