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Mar 04 - 11:55 PM

EUR/USD - Remains Under Pressure But 1.1950 Holding For Now

By John Noonan  —  Mar 04 - 10:02 PM
  • EUR/USD opened 0.75% lower at 1.1972 after surging US yields supported USD nL3N2L301S

  • The US 10-year yield rose 3 BPs to 1.58% in Asia to put pressure on EUR/USD

  • EUR/USD fell to 1.1951 for fresh 2021 low before bids at 1.1950 held

  • Heading into the afternoon it was trading 1.1960/65 and still under pressure

  • A clear break below 1.1950 targets the 61.8 of 1.1602/1.2349 at 1.1887

  • Resistance is at 10-day MA at 1.2086 with sellers tipped ahead of 1.200

  • Market looking ahead to US payrolls later today where volatility is expected

  • A strong US jobs report would potentially push US yields and USD higher

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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