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Oct 06 - 01:55 AM

EUR/USD - Tracks Higher As Buoyant Risk Weighs On USD

By John Noonan  —  Oct 05 - 11:45 PM
  • EUR/USD opened -1.07% at 0.9881 after hawkish Fed speak lifted US yields

  • It moved up when risk assets and risk currencies went bid when Tokyo opened

  • E-minis moved up 0.60% while the Nikkei gained nearly 1.0%

  • USD broadly eased and the EUR/USD traded up to 0.9927

  • Heading into the afternoon it is trading around 0.9920

  • Resistance is at the 55-day MA at 1.0025 and a trend-line at 1.0053

  • The trend-lie is drawn from Feb 10 and has held rallies since

  • Support is at the 10-day MA at 0.9787 and break would renew pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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