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Mar 05 - 08:55 PM

EUR/USD - Opens Flat Ahead Of Powell Today And ECB Thursday

By John Noonan  —  Mar 05 - 06:35 PM
  • EUR/USD opens flat after topping out at 1.0876

  • Fall in US yields weighed on USD, but DE yields also fell nL2N3FJ2DM

  • The 10-year yield closed 6 bps lower at 4.15% while DE 10-year fell 7 bps

  • EUR/USD resistance is @ the 55-day MA @ 1.0876 and last week's high @ 1.0889

  • It is trending higher with the 5. 10 & 21-day MAs in a bullish formation

  • Support is at the 21-day MA at 1.0804 and break would end trend higher

  • Market is looking ahead to Powell testimony later today and ECB Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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