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Sep 22 - 01:55 AM

EUR/USD - Remains Heavy In Asia As Hawkish Fed Resonates

By John Noonan  —  Sep 21 - 11:50 PM
  • EUR/USD opened -1.3% at0.9838 after hawkish Fed and Ukraine uncertainty undermined nL1N30R1F1nL1N30S16B

  • After trading -/9847 the EUR/USD came under pressure as USD firmed in Asia

  • EUR/USD traded to 0.9807 before bids ahead of 0.9800 discouraged sellers

  • It bouced to 0.9838 when USD/JPY had a whippy reaction to BOJ decision nL4N30T0GS

  • Rally was brief and EUR/USD is trading around 0.9820 into the afternoon

  • USD likely to remain in demand for the short-term at least nL4N30T04M

  • EUR/USD resistance at former support at 0.9864F with sellers 0.9850

  • More resistance is at 0.9977 where the 10 & 21-day MAs converge

  • There isn't any support until a 2002 monthly low at 0.9608

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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