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May 18 - 08:36 AM

EUR/USD - Consolidating Above 1.0800 Waiting For Catalyst

By John Noonan  —  May 18 - 12:00 AM
  • EUR/USD fell to 1.0802 early Asia when USD buying dominated

  • It quickly recovered as the market liquidity improved

  • Powell comments seen cautiously optimistic and supported risk in Asia nL1N2CZ09O

  • S&P futures traded 1.2% higher an underpinned EUR/JPY

  • EUR/USD traded to 1.0827 and was 1.0820/25 into the afternoon

  • Trend-line support at 1.0788 and May 7 low at 1.0766

  • Resistance at 21-day MA at 1.0844 and close above targets 1.0895










Source:
Refinitiv IFR Research/Market Commentary

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