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Nov 09 - 01:55 AM

EUR/USD - Edges Higher As Risk Rally Weighs On USD

By John Noonan  —  Nov 08 - 10:25 PM
  • EUR/USD edged higher in early Asia as risk assets moved up on Biden win nL1N2HV029

  • E-minis futures moved 1.15% higher and broadly weighed on USD nL1N2HV01B

  • EUR/USD traded as high as 1.1895 before 1.1900 offers capped

  • Heading into the afternoon it is 0.11% higher at 1.1890

  • USD sentiment bearish as market prices in Biden win and Republican Senate

  • Smaller U.S. stimulus package expected - leaving more work for Fed

  • EUR/USD resistance at Sept 10 high at 1.1917 and multi-year high at 1.2014

  • Support at 55-daty MA at 1.1785 and break eases upward pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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