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Jun 22 - 08:55 PM

EUR/USD - Opens Higher After Whippy Outside Day

By John Noonan  —  Jun 22 - 06:50 PM
  • EUR/USD opens +0.31% after whipping between 1.0470 and 1.0606

  • It moved higher after Powell's testimony was less hawkish than expected

  • US yields fell and gave EUR/USD support for short-covering rebound

  • Falling oil prices also underpinning EUR on the crosses

  • EUR/USD support formed at 1.0470 where it bottomed Monday and Wednesday

  • Resistance is at the 21-day MA at For more click on 1.0611

  • More resistance is at the 61.8 of the 1.0787/1.0359 move at 1.0623

  • A break above 1.0625 would suggest a short-term bottom is in place

  • For more please click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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