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Jul 27 - 03:55 PM

EUR/USD - Despite Risk-Off Short Covering Reigns Ahead Of The Fed

By Christopher Romano  —  Jul 27 - 01:47 PM
  • EUR/USD sinks to 1.1770 on EBS in Europe a.m. on US$ & yen safe-haven buys

  • Pair nears 1.1790 into NY open, intense US$ selling ensues in NY morning

  • Drop in UST yields US10YT=RR, rally in eurodollars EDZ2 sink the US$

  • EUR/USD lifts above 10, 21-DMAs despite EUR/JPY & oil drops, USD/CNH gains

  • 1.1840 gets pierced and little pull back seen, sits nearby late in the day

  • Rising daily RSI, break of 10 & 21-DMA dents bearish technical signals

  • Fed, China, tech risks favor EUR/USD bears nL1N2P31FX

  • For more click on FXBUZ


eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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