• NY opened near 1.1280 after 1.1170-1.1288 traded on EBS overnight

• Bulls were unable to maintain upward momentum as US$ selling abated

• Buying of US assets helped drive EUR/USD towards 1.1225

• US Treasury prices firmed, stock turned positive and gold softened

• EUR/USD fell back below the trend line off the April 21 high, was up +0.55% late

• Falling monthly RSI & hold below the 21-DMA are concerns for EUR/USD longs

• Rising daily RSI, hold above the rising daily cloud give longs some comfort however
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)