By John Noonan — Apr 25 - 11:50 PM
EUR/USD opened -0.90% at 1.0712 after USD and JPY surged across the board
After trading 1.0707 it tracked higher led by a 0.5% drop in USD/JPY
USD selling continued, as risk assets steadied and USD/CNH fell from highs
EUR/USD is trading close to the 1.0735 session high into the afternoon
Resistance is at former support at 1.0755/65 where sellers are tipped
EUR/USD trending lwoer with the 5, 10 & 21-day MAs in a bearish alignment
Only a break above the 10-day MA at 1.0804 would suggest bottom is forming
The next level of decent support is the 2020 low at 1.0636
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Source:
Refinitiv IFR Research/Market Commentary