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Apr 23 - 11:55 PM

EUR/USD - REFILE-BUZZ-EUR/USD-Drifts Lower After Failing To Take Out 1.1000

By John Noonan  —  Apr 23 - 11:30 PM

Corrects currency in headline, subscriber codes

  • EUR/USD opened 1.0989 after rising 0.15% on Friday

  • It moved higher early Asia before topping out at 1.0996

  • Sellers at last week's 1.1000 high capping price action for now

  • EUR/USD drifted back to 1.0980/85 heading into the afternoon session

  • EUR/USD ended last week flat as it consolidates gains since mid-March

  • Resistance formed at 1.1000 and break targets the April 14 high at 1.1075

  • Key support is at the21-day MA at 1.0925 and break would warn top is forming

  • Flows will be dictated by positioning ahead of next week's Fed and ECB decisions

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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