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Apr 07 - 04:55 PM

EUR/USD - Tariff Headlines Drive Volatility And Bears Gain Some Traction

By Christopher Romano  —  Apr 07 - 02:37 PM

• NY opened near 1.0960 after 1.1050 traded on EBS in Europe's morning

• Pair lifted early as risk improved; stock , EUR/JPY rallied

• EUR/USD neared 1.0995, remarks from EU's Von der Leyen helped the lift

• Sellers emerged after President Trump threatened more tariffs on China

• US$, yields firmed & USD/CNH rallied above 7.3490

• EUR/USD hit 1.0900, bounced slightly, neared 1.0930 late, down -0.30%

• EUR/JPY & equity gains likely helped EUR/USD's late day lift

• Monthly RSI is rising but daily RSI is falling, pair holds above the 200-DMA

• April's inverted hammer candle may be a concern for EUR/USD longs
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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