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Nov 30 - 07:55 PM

EUR/USD - Opens Lower After Failing Above 1.2000

By John Noonan  —  Nov 30 - 06:00 PM
  • EUR/USD opens 0.34% lower as USD broadly strengthened on month-end flows

  • EUR/USD traded to a 3-month high at 1.2004 before profit-taking set in

  • Despite the reversal to below 1.l920, the trend higher remains intact

  • The 5, 10 and 21-day MAs remain aligned in a bullish formation

  • Support at the 10-day MA @ 1.1895 and break would suggest trend is exhausted

  • Resistance at the trend high @ 1.2014 was validated by Monday's price action

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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