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May 13 - 01:55 AM

EUR/USD - Gently Bid As Risk Appetite Resurfaces In Asia

By Andrew M Spencer  —  May 13 - 12:15 AM

  • Trades +0.1% with the USD and UST yields firmer in a 1.0373-1.0398 range

  • Optimism resurfaced in Asia, E-mini S&P +1%, Nikkei +2.5%, AsiaxJP +1.6%

  • Positive sentiment may flow through to Europe, providing euro support

  • Charts; daily momentum studies, 5, 10 and 21 day moving averages slide

  • 21 day Bolli bands fall, bearish setup suggests a break of 1.0340 2017 low

  • Close above 1.0616 21 DMA to end the downside bias - no close option strikes

  • 1.0373 Asian low and 1.0464, 38.2% May fall initial support, resistance

For more click on FXBUZ


eur 2 May 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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