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Mar 06 - 01:55 AM

EUR/USD - Edges Higher As US Yields Continue To Droop

By John Noonan  —  Mar 05 - 10:20 PM
  • EUR/USD opened 1.0626 after rising 0.33% Friday to close at 1.0633

  • After trading 1.0615 it tracked higher as US yields eased and risk assets remained buoyant nL4N35E033

  • Muted response to China lowering growth target weighed on USD late morning nL1N35D02A

  • Heading into the afternoon EUR/USD is trading near session high at 1.0650

  • Resistance is at the 21-day MA at 1.0662 and close above would be bullish

  • More resistance is at the 38.2 of the 1.1034/1.0533 move at 1.0724

  • Support is at last week's 1.0536 low where buying is tipped

  • Key will be moves in US yields before and after key US non-farm payrolls

  • Bond market signalling a top in yields may be forming and this weighs on USD

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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