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Jun 01 - 01:55 AM

EUR/USD - Firm Tone But Sellers Ahead Of 1.2250 Contain

By John Noonan  —  May 31 - 11:49 PM
  • EUR/USD opened 0.26% higher at 1.2225 after USD weakened in holiday market

  • After trading at 1.2224 it tracked higher as USD selling continued in Asia

  • EUR/USD traded to 1,2236 before buyers receded due to sellers at 1.2240/50

  • Most USD selling was against the GBP and AUD - as GBP/USD hit 2021 high

  • Heading into the afternoon the EUR/USD was settled around 1.2230

  • The close above the 10-day MA at 1.2209 puts May 21 high at 1.2266 in focus

  • The 10-day MA is now support with more support at the 21-day MA at 1.2156

  • Sentiment is bullish and more testing of the upside is likely

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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