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Oct 26 - 08:55 PM

EUR/USD - Opens Close To Flat After Fall In US Yields Underpins

By John Noonan  —  Oct 26 - 06:40 PM
  • EUR/USD opens -0.07% after recovering from a low at 1.0521

  • US yields fell despite strong US GDP as inflation component softened nL1N3BW37A

  • EUR/USD closed at the 21-day MA at 1.0561 to give it a neutral bias

  • Whippy price action may continue until key levels give way to ignite trend

  • Key support is at the 1.0448 trend and 2023 low made on Oct 3

  • Key resistance is @ 55-day MA (1.0680) which has held rallies since Aug 15

  • Asia might be quiet ahead of US PCE price index later today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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