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May 17 - 08:55 PM

EUR/USD - Surges Higher As Upbeat Mood Weighs On USD And JPY

By John Noonan  —  May 17 - 07:20 PM
  • EUR/USD opens 1.1% higher after USD and JPY fell across the board nL2N2X91XR

  • Hawkish comments from ECB's Knot helped to underpin EUR in Europe nL5N2X9343

  • Fed Chair Powell was also hawkish but market took comments in stride nL2N2X9228

  • EUR/USD closed above the 10-day MA, which is now support at 1.0501

  • Key resistance is at the 21-day MA at 1.0576

  • A close above the 21-day MA would suggest a bottom is in place

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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