EUR/USD Price Analysis: A failure to resist above 200-DMA recalls the sellers

EUR/USD is holding the lower ground while hovering within Wednesday’s trading range in early Asian dealings, as the US dollar remains broadly in demand amid tepid close on Wall Street. Markets weigh in US President Joe Biden’s remarks on his infrastructure plans, FOMC minutes and a recovery in the Treasury yields heading into the earnings season and Fed Chair Jerome Powell’s speech. From a near-term technical perspective, EUR/USD did take out the 200-daily moving average (DMA) at 1.1890 but failed to sustain above the latter. Sellers returned and prompted the spot to finish the day near just above the 1.1860 … (full story)

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