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Mar 01 - 01:55 AM

EUR/USD - Edges Higher In Asia On EUR/JPY Recovery

By John Noonan  —  Feb 29 - 10:25 PM
  • EUR/USD opened -0.31% at 1.0804 after a whippy US session post-US PCE

  • Move lower Thursday was partly due to EUR/JPY selling as cross fell 0.80%

  • Price action partly reversed in Asia with the EUR/USD recovering 0.40%

  • EUR/USD moved up to 1.0820 heading into the afternoon

  • Resistance is at the 55-day MA at 1.0881 and last week's 1.0889 high

  • A break above 1.0900 should spark a short-term trend higher

  • Support is at the 21-day MA at 1.0790 which has held on dips

  • A close below 1.0790 opens up ore downside action

  • The key event later today will be EZ CPI for February

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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