• NY opened near 1.1605 after 1.1587 traded in Europe, pair rallied in early action

• USD, US yields slid, spreads tightened after PCE, claims reports

• Risk-on then dominated after report of a possible US-Iran ceasefire extension

• US yields turned lower, USD/CNH fell to 6.7710 and the USD was sold broadly

• Gold, silver and equities turned positive to reinforce the risk-on sentiment

• EUR/USD hit 1.1661 then dipped a bit, it traded up +0.23% late in the session

• Daily techs warn bears; RSIs diverged, trend line support held, bull hammer formed

• EUR/USD's rally above the 10- and 55-DMAs reinforces those bullish signs
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)