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Nov 21 - 10:55 PM

EUR/USD - Under Pressure In Asia As COVID Concerns Weigh

By John Noonan  —  Nov 21 - 10:01 PM
  • EUR/USD opened 1.1290 after closing down 0.66% at 1.1299 on Friday

  • After trading at 1.1296 it came under pressure due to concerns over COVID-related lockdowns nL4N2SD01G

  • Selling was seen through the morning and it traded down to 1.1265

  • Heading into the afternoon it is hovering above the session low

  • Support and buyers are found at 1.1250 while sellers are tipped at 1.1300

  • A break below 1.1250 targets the 76.4 of 2020/2021 move at 1.1040

  • EUR/USD trending lower with the 5, 10 & 21-day MAs in a bearish formation

  • Resistance is at the 10-day MA at 1.1391 and a break would ease pressure

  • Price action in EUR/USD suggests more downside in immediate-term

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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