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Jan 05 - 08:55 PM

EUR/USD - Opens Lower As Market Positions For Strong US Jobs

By John Noonan  —  Jan 05 - 06:50 PM
  • EUR/USD opened -0.80% after USD surged following US ADP jobs data nL1N33Q274

  • Market now pricing in a strong US non-farm payrolls and hawkish Fed response

  • Bids ahead of 1.0500 holding for now, but EUR/USD looking vulnerable

  • A clear break below 1.0500 targets the 55-day MA at 1.0368

  • Resistance is around 1.0610 where the 10 & 21-day MAs converge

  • Whippy range trading expected before the US non-farm payroll release

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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