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Feb 09 - 07:55 PM

EUR/USD - _Opens Above Key Resistance To End Down-Trend

By John Noonan  —  Feb 09 - 05:40 PM
  • EUR/USD opens 0.56% higher after the USD fell across the board

  • The break and close above key resistance at 1.2100/05 is a blow to bears

  • Both the 38.2 of 1.2349/1.1952 and 21-day MA came in at 1.2100/05

  • The break higher ends the short-term trend lower that started Jan 6

  • Next resistance is at the 55-day MA at 1.2138 and 50% retracement at 1.2150

  • Support is found at the 21-day MA at 1.2102 and the 10-day MA at 1.2070

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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