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Dec 26 - 07:55 PM

EUR/USD - Closes At 4-Month High As USD Weakness Persists

By John Noonan  —  Dec 26 - 06:15 PM
  • EUR/USD closed a 4-month high and +0.24% from Friday's close

  • Broad US weakness and elevated risk assets helped underpin EUR/USD nL1N3DL1GB

  • EUR/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 1.0986 and break would ease upward momentum

  • Resistance is at the 76.4 of the 2023 high-low at 1.1080

  • A break above 1.1080 targets the 2023 high at 1.1276

  • Upward momentum for EUR/USD likely to be maintained into year-end

  • Market will be quiet, but thin markets could exaggerate moves

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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