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