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Nov 07 - 01:55 AM

EUR/USD - Recovers Most Of Early Losses But Still Down On The Day

By John Noonan  —  Nov 06 - 11:05 PM
  • EUR/USD fell to 0.9875 early Asia after closing +2.15% at 0.9959 Friday

  • USD broadly gained due to China pushing back on rumours they were ready to ease Covid restrictions nL1N32104E

  • EUR/USD steadily climbed back after risk assets in Asia took the China news in stride

  • AXJ equity index rose 1.5% and E-minis eased just 0.15% after opening -0.75%

  • Heading into the afternoon the EUR/USD is trading 0.9940/45

  • The 10-day MA is at 0.9920 with support at the 21-day MA at 0.9848

  • Key resistance is at the 100-day MA at 1.0046 with sellers 0.9970/80

  • Key will be moves in US yields and risk assets ahead of Thursday's US CPI

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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