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Mar 12 - 01:55 AM

EUR/USD - Edges Higher In Quiet Asia As Market Awaits US CPI

By John Noonan  —  Mar 11 - 11:30 PM
  • EUR/USD opened -0.14% at 1.0825 after US yields firmed and supported USD nL2N3FP1VN

  • EUR/USD was bid in Asia and edged up to 1.0938 before settling around 1.0935

  • It is trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 1.0884 and break would suggest top is forming

  • Resistance is at Friday's 1.0980 high with sellers ahead of 1.1000

  • More resistance is at the 61.8 of the Dec=Fed fall at 1.1034

  • Market is sidelined ahead of US CPI later today

  • A benign US CPI would likely push US yields and the USD lower

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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