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Jun 30 - 08:55 PM

EUR/USD - Opens Higher After Reversing From Lows When US Yields Sank

By John Noonan  —  Jun 30 - 08:25 PM
  • EUR/USD opens +0.39% after big recovery from 1.0381 low

  • Soft US data, falling US yields and quarter-end flows led to short-covering

  • EUR/USD a bit softer in early Asia, as outlook still bearish into new month

  • Despite fall in US yields, the spread between 10-year Bund and 10-year US Treasury yield widened in favour of the USD

  • Resistance is at the 10-day MA at 1.0519 and 21-day MA at 1.0546

  • Support between 1.0340/60 validated by yesterday's price action

  • EUR/USD trending lower with the 5.10 & 21-day MAs in a bearish alignment

  • Selling rallies is the favoured strategy

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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