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Oct 09 - 11:55 PM

EUR/USD - Edges Higher In Quiet Asian Session

By John Noonan  —  Oct 09 - 11:00 PM
  • EUR/USD opened -0.18% at 1.0567 after EUR under-performed Monday

  • EUR fell against every major currency as EZ yields eased nL1N3BF0J6

  • It was quiet in Asia and EUR/USD traded in a 1.0565/83 range

  • Heading into the afternoon it is trading around 1.0570/75

  • Resistance is @ 21-day MA @ 1.0602 and break would suggest bottom has formed

  • Support is at the 10-day MA at 1.0536 and Monday's low at 1.0519

  • EUR/USD underpinned by dovish shift in Fed expectations nL1N3BF25Y

  • It needs to break above 1.0610 to establish upward momentum

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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