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Dec 12 - 07:55 PM

EUR/USD - Opens Little Changed After Choppy Session

By John Noonan  —  Dec 12 - 05:40 PM
  • EUR/USD opens slightly higher after trading in at 1.0506/80 range on Monday

  • EUR was supported by cross flows and traded to 1.0580 early NY

  • It then reversed lower when US yields moved higher and underpinned USD

  • EUR/JPY ended 0.90% higher due to EUR-positive cross flows

  • EUR/USD support at the 10-day MA - which ascends to 1.0510 today

  • Sellers are tipped ahead of 1.0600 with resistance at Dec 5 high at 1.0595

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

  • A close below the 10-day MA would warn trend higher is losing momentum

  • A break below the 21-day MA at 1.0426 would signal the trend is over

  • EUR/USD likely to range trade ahead of US CPI later today

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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