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Apr 11 - 01:55 AM

EUR/USD - Steadies Above 1.0885 After Filling Early Gap Higher

By John Noonan  —  Apr 10 - 11:55 PM
  • EUR/USD gapped up to 1.0955 at the open on news Macron led first round French election nL2N2W801O

  • Macron victory didn't ensure win in second round and EUR/USD moved lower

  • EUR/USD fully retraced back to the Friday close at 1.0875 to fill the gap

  • Heading into the afternoon the EUR/USD is trading around 1.0885

  • USD broadly firmed as US 10-year yield soared to 2.77% from NY close @ 2.70%

  • EUR/USD resistance is at 10-day MA at 1.0977 and 21-day MA at 1.0993

  • Support is at Friday's 1.0836 low and trend low at 1.0806

  • Risk is for EUR/USD to move lower ahead of Thursday's ECB meeting

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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