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Nov 20 - 10:55 PM

EUR/USD - Firms Up To Key Resistance As USD Selling Continues

By John Noonan  —  Nov 20 - 10:00 PM
  • EUR/USD opened +0.26% at 1.0941 after USD fell across the board nL1N3CL22K

  • USD selling continued in Asia - led by USD/JPY falling below 148.00

  • EUR/USD is edging above key resistance at 1.0959 heading into the afternoon

  • The 61.8 of the July/Oct fall is at 1.0959 and clear break would be bullish

  • The next level or resistance is at the 76.4 of July/Oct fall at 1.1080

  • EUR/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at 1.0805/15 where the 10 & 200-day MAs converge

  • USD sentiment is decidedly bearish as Fed expectations have turned dovish

  • Lack of data this week will give EUR/USD bulls room to roam

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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