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May 25 - 02:55 AM

EUR/USD - Eases In Asia As Longs Pare Ahead Of Solid Resistance

By John Noonan  —  May 25 - 12:35 AM
  • EUR/USD opened +0.4% at 1.0735 after hawkish ECB, easier US yields nL2N2XG1ZC

  • USD moved higher in Asia and the EUR/USD drifted down from 1.1737 to 1.1704

  • Longs pared ahead of 1.1780-90 where 55-day MA, 38.2% Fibo are found

  • Support at yesterday's 1.0661 low & 1.0545/55 where 10 & 21-day MAs meet

  • Bias is for higher, while ECB and Fed expectations converge

  • Fed minutes later today will help shape Fed expectations

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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