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May 22 - 08:36 AM

EUR/USD - Bulls Eye Key Resistance After Data

By Christopher Romano  —  May 21 - 08:40 AM
  • US$ softens as NY begins, EUR/USD nears the 200-DMA, aided by EUR/JPY rally

  • EZ May PMI above April but still shows contracting nZRN000FN0, buoys euro

  • US weekly, continuing claims above are slightly estimates nAQN02K8VO

  • US$ sold a bit, equities bounce, EUR/USD stays bid near 1.1008 EBS high

  • 200-DMA & May 1 high are immediate res, March 31 high is res thereafter

  • Break of March 31 high likely leads to test of 1.1145/50 resistance



eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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