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Apr 11 - 08:55 PM

EUR/USD - Opens Little Changed As EUR Supported On Cross Flows

By John Noonan  —  Apr 11 - 07:05 PM
  • EUR/USD opens a few pips higher after getting support from EUR/JPY buying

  • EUR was supported by unwinding of shorts following Macron win in first round of French election nL2N2W91PL

  • EUR/USD support at Friday's 1.0836 low and March 7 trend low at 1.0806

  • Resistance is at the 10-day MA at 1.0956 and 21-day MA at 1.0990

  • EUR/USD may remain in range ahead of ECB meeting on Thursday

  • Market is split on whether or not ECB will signal a hawkish pivot

  • Political uncertainty and rising US yields likely to limit upside

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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