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Mar 18 - 01:55 AM

EUR/USD - Slips Back As Solid Resistance Proves Stubborn

By John Noonan  —  Mar 17 - 10:31 PM
  • EUR/USD opened 0.65% higher at 1.1979 after dovish FOMC nL1N2LF2XI

  • It traded 1.1988 early Asia before sellers around 1.1990 capped

  • Longs pared back after failure to break and it is 1.1965 into the afternoon

  • The 38.2 of 1.2243/1.1835 move at 1.1991 is proving to be stiff resistance

  • Hourly support has formed at 1.1960/65 and the 10-day MA is at 1.1930

  • A break below 1.1930 would ease upward pressure in the short-term

  • EUR/USD supported by dovish Fed, but other factors limit upside nL4N2LG043

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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