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Dec 06 - 07:55 PM

EUR/USD - Rally Stalls As Equities Wobble On Recession Fears

By John Noonan  —  Dec 06 - 06:20 PM
  • EUR/USD opens -0.20% after easing late US as Wall Street tumbled nL1N32W2KF] nL1N32W2LQ

  • Repeated fails above 1.0500 causing EUR/USD bulls to take pause

  • EUR/USD trending higher with the 5, 10 & 21-day MAs in bullish alignment

  • Support is at the 10-day MA at 1.0439 and break would warn a top is in place

  • Key support at 21-day MA at 1.0364 and break ends short-term trend higher

  • Sellers are tipped ahead of 1.0600 with resistance at June 27 high at 1.0615

  • EUR/USD may struggle to regain upward momentum ahead of FOMC next week

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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