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Jun 07 - 08:55 PM

EUR/USD - Trend High In Sight As USD Remains On The Defensive

By John Noonan  —  Jun 07 - 07:19 PM
  • EUR/USD opens 0.19% higher as USD selling resumed at start of the new week

  • It closed above 21-day MA (1.2180) and is just above 10-day MA at 1.2190

  • Selling around 1.2200 capping for now, but price action is bullish

  • Resistance is at the June 1 high at 1.2254 and May 25 trend high at 1.2266

  • EUR/USD bid despite weak German IO and slightly firmer US yieldsnL5N2NP0YX

  • Support at 21-day MA at 1.2180 and break would ease upward pressure for now

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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