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Sep 23 - 01:55 AM

EUR/USD - Early Gain Fades As Risk Aversion Grips Asia

By John Noonan  —  Sep 22 - 11:55 PM
  • EUR/USD opened unchanged at 0.9837 after a whippy post-Fed trading day

  • It moved higher early Asia when a fall in USD/JPY led USD broadly lower

  • The gains faded when E-minis went from +0.27% to -0.10%

  • The AXJ equity index fell over 1.0% and the gloomy mood supported USD

  • EUR/USD eased to 0.9825 where it is trading into the afternoon

  • Bids are tipped ahead of 0.9800 with yesterday's low at 0.9807

  • Resistance is at yesterday's 0.9909 high with offers 0.9900/20

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

  • Only a break above the 10-day MA at 0.9956 would ease downward pressure

  • EZ flash PMIs may provide some action in Europe today

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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