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Aug 03 - 08:55 PM

EUR/USD - Opens Only Slightly Lower After Decent Bounce

By John Noonan  —  Aug 03 - 07:00 PM
  • EUR/USD opens just 0.11% lower after briefly testing bids below 1.1700

  • The low was 1.1695 - just below where the 10-day MA was on Monday

  • The 10-day MA comes in at 1.1723 today and a close below would be bearish

  • EUR/USD bounced after Fed officials gave a gloomy outlook for US economy nL1N2F5153

  • Sellers tipped ahead of 1.1800 and break would shift pressure to upside

  • EUR/USD still trending higher with 5, 10 and 21-day MAs in bullish alignment

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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