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Sep 20 - 01:55 AM

EUR/USD - Early Rally Stalls But Still Retains Bid Tone

By John Noonan  —  Sep 20 - 12:00 AM
  • EUR/USD opened +0.1% at 1.0027 after bouncing from 0.9966 low

  • Risk assets moved higher late NY and remained buoyant in Asia

  • USD broadly eased when Tokyo arrived and EUR/USD traded up to 1.0051

  • Sellers emerged at the highs and EUR/USD drifted back to 1.0030/35

  • Asian equity markets remained bid with the AXJ index up over 1.0%

  • EUR/USD support is at 1.0018 with buyers tipped around 1.0020

  • Resistance is at the 55-day MA at 1.0100 with sellers at 1.0050/60

  • EUR/USD still range trading as market awaits FOMC decision Wednesday

  • Bias is slightly bullish while it holds above 1.0000

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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