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Ukrainian officials say the Russian attack killed four people in and around Kyiv.On May 24, local time, Russian Foreign Ministrys Director-General of the Second Department for CIS Affairs, Polischuk, stated that Russia is prepared to present its own recommendations regarding the USs 27-point plan for resolving the Ukraine crisis during the next round of meetings. He did not disclose the specific content of the recommendations. Polischuk indicated that following the two rounds of trilateral talks in Abu Dhabi and Geneva, Russian experts, based on the outcomes of the talks, have formulated recommendations regarding the USs 27-point plan.On May 24, Minister of Commerce Wang Wentao met with UNCTAD Acting Secretary-General Reno Mareno in Suzhou on May 23. Mareno was in China to attend the APEC Trade Ministers Meeting. The two sides exchanged views on the global economic and trade situation and deepening practical cooperation. Wang Wentao emphasized that the 15th Five-Year Plan outlines a grand blueprint for Chinas future development and makes important arrangements for expanding high-level opening-up, upholding the multilateral trading system, and practicing genuine multilateralism. China is willing to work with all parties, including UNCTAD, to jointly promote the building and maintenance of a fair, just, open, inclusive, and win-win international economic and trade order.According to Ukrainian media: Explosions have been heard again in Kyiv.On May 24th, Mehdi Tajé, president of the Iranian Football Federation, announced on the 23rd that, with FIFAs approval, the Iranian national football teams training base for the World Cup would be moved from the United States to Mexico. In a statement released to the media by the Iranian Football Federation, Tajé said that due to difficulties obtaining visas, the Iranian national team requested FIFA to change its World Cup training base from Tucson, Arizona, to Tijuana, Mexico, and that preparations in Tijuana have been completed. Tijuana is located on the US-Mexico border, approximately 20 kilometers from San Diego, a city in Southern California.

EUR/USD Price Analysis: Monthly Top Pullback Remains Unattainable Above 1.0710

Alina Haynes

May 25, 2022 09:53

EUR/USD reaches a new intraday low under 1.0720, consolidating weekly gains near the monthly high. In doing so, the main currency pair demonstrates weakness below the 50-day simple moving average (SMA) and indicates more losses below the 11-week-old resistance-turned-support line.

 

Notably, a stronger RSI (14) and a clear upward breach of the prior resistance line at 1.0710 kept the pair buyers optimistic.

 

Even if the price falls below 1.0710, the early-month top of 1.0641 and an upward-sloping support line from May 13 at 1.0570 will test EUR/USD bearish before the 21-day moving average of 1.0547.

 

Alternately, the 50-day simple moving average level of 1.0765 threatens the EUR/USD pair's near-term upside ahead of a downward sloping trend line from February approaching 1.0840.

 

Should the price surpass 1.0840, the 1.0936 swing high from late April and the psychological 1.1000 level would attract EUR/USD bulls.

EUR/USD: Chart Daily 

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