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Mar 27 - 10:55 PM

EUR/USD - Edging Towards Key Short-Term Support

By John Noonan  —  Mar 27 - 09:10 PM
  • EUR/USD has traded down to 1.0967 - just ahead of support at 1.0960/65

  • Bids ahead of 1.0960 absorbed selling pressure since Tuesday last week

  • Break below 1.0960 targets minor fibo support at the 61.8 of 1.0806/1.1137 at 1.0932

  • A more likely target of a 1.10960 break is the March 7 low at 1.0806

  • Bias bearish due to hawkish turn in Fed expectations ahead of May Fed Meeting

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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