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Nov 02 - 11:55 PM

EUR/USD - Edges Higher As Mood In Asia Is Buoyant

By John Noonan  —  Nov 02 - 10:00 PM
  • EUR/USD opened at 1.1638 and edged higher in a very quiet Asian session

  • Heading into the afternoon it was around 1.1650 after a high of 1.1652

  • Mood in Asia was buoyant with E-minis up 0.65% and AXJ equity index up 1.0%

  • EUR/USD not gaining from move up in equities, as market remains cautious

  • U.S. election in focus and risk of contested election warrants caution

  • EUR/USD gains also limited by the impact of coronavirus infections in Europe nL1N2HN0F6

  • Support is at the Sept 25 low at 1.1612 where buyers are tipped

  • Resistance at 100-day MA at 1.1661 and close above eases downward pressure

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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