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Mar 25 - 01:55 AM

EUR/USD - Edges Higher As USD/CNH Fall Broadly Weighs On USD

By John Noonan  —  Mar 24 - 11:20 PM
  • EUR/USD opened -0.47% after USD moved higher Friday despite easing US yields nL2N3G01TO

  • After dip to 1.0802 the EUR/USD steadily gained through the US morning

  • A fall in the USD/CNH following aggressive CNY fix broadly weighed on USD nL2N3G301L

  • EUR/USD traded to 1.0822 and was at session high into the afternoon session

  • Support at 61.8 of Feb-March rise at 1.0803 proving to be sticky

  • EUR/USD bids at 1.0795/1.0800 are underpinning for now

  • A break below 1.0790 targets the February low at 1.0695

  • Resistance is t 1.0875/80 where the 10 & 21-day MAs converge

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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