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Apr 24 - 01:55 AM

EUR/USD - Consolidates Above 1.0700 In Quiet Trading

By John Noonan  —  Apr 23 - 11:55 PM
  • EUR/USD opened +0.45% at 1.0701 after USD broadly eased on softer US yields nL2N3GW2D5

  • It traded in a 1.0700/14 range in Asia and is 1.0705 into the afternoon

  • The close above the 10-day MA at 1.0664 suggests there is a bottom in place

  • Resistance is @ 1.0740/45 where 21-day MA & 38.2 of March-Apr fall converge

  • A break above 1.0750 would likely spark a short-term trend higher

  • Bias is for EUR/USD to edge higher ahead of key US PCE price index Friday

  • Support is now at the 10-day MA at 1.0664For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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