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Sep 01 - 01:55 AM

EUR/USD - Gives Back Wednesday's Gain As USD Rises In Asia

By John Noonan  —  Aug 31 - 11:45 PM
  • EUR/USD opened +0.37% at 1.0053 after EUR gained across the board

  • Asia was risk-off out the gate with E-minis slumping 0.60% at the open nL1N308031

  • USD broadly gained and the EUR/USD eased to 1.0020 at one stage

  • Heading into the afternoon the EUR/USD was trading around 1.0025

  • EUR/USD resistance is at the pre-Powell speech high at 1.0190

  • More resistance is at the 21-day MA at 1.0109 and break would be bullish

  • Support is at the 10-day MA at 0.9994 with bids ahead of 1.0000

  • Hawkish ECB expectations underpin ahead of ECB decision next week

  • Ongoing uncertainty over EU energy supplies and hawkish Fed cap weigh

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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