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May 10 - 01:55 AM

EUR/USD - Edges Higher As USD Gives Back Early Gains

By John Noonan  —  May 09 - 11:45 PM
  • EUR/USD opened 1.0558 after once again finding buyers below 1.0500

  • Asia started risk-off and USD firmed against the risk currencies nL3N2X205K

  • EUR/USD edged down to 1.0553, as EUR/AUD buying underpinned

  • Risk assets recovered ground late morning and USD gave back gains

  • EUR/USD rallied to 1.0580 before settling around 1.0570/75

  • EUR/USD resilient as EUR gaining on the crosses due to short-covering

  • EUR/USD downward momentum in a stall as 5-day MA crosses above 10-day MA

  • Resistance is at the May 5 high at 1.0642 and 21-day MA at 1.0678

  • Support has formed between 1.0465/95 where bids are tipped

  • A break below 1.0460 needed to reignite trend lower

  • German ZEW later today in the key event risk in Europe

  • For more click on FXBUZ

aud/usd Click here

Refinitiv IFR Research/Market Commentary


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