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May 03 - 08:55 PM

EUR/USD - Bounces On Diverging Data As Base Ahead Of 1.2000 Forms

By John Noonan  —  May 03 - 07:03 PM
  • EUR/USD opens 0.34% higher after USD gave back much of Friday's gains

  • Diverging PMI data from EZ and US also helped underpin the EUR/USD nL1N2MQ1KX

  • EUR/USD forming a base ahead of 1.2000 after last week's fail at 1.2150

  • The 21-day MA is at 1.2006 and close below would increase pressure

  • Resistance at the 10-day MA at 1.2071 and yesterday's high at 1.2076

  • Consolidation in narrow range between 10 & 21-day MAs likely in Asia

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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