EUR/USD: Pair Drifts Lower
Tickmill | Jan 10, 2022 03:15AM ET
EUR/USD drifts lower as the US dollar strengthened against EUR and JPY. EUR/USD opened around 1.1355 after rising 0.55% Friday on US jobs data miss.
The pair traded at 1.1360 early before stating a slow drift lower. Heading into the afternoon, it is at the session low at 1.1338.
EUR/USD support is at the 10-day MA at 1.1324 and 21-day MA at 1.1310. A break below 1.1310 targets a double-bottom at 1.1270/75.
Resistance is at the 55-day MA at 1.1370, as that reading has held since Sep. 16. Friday's gain may be a selling opportunity as long as 1.1370 persists as a resistance.
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