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Apr 29 - 03:55 PM

EUR/USD - Shorts Lose Some Traction Heading Into The Weekend

By Christopher Romano  —  Apr 29 - 01:45 PM
  • EUR/USD rallied to 1.0593 onEBS in Europe's am, NY opened near 1.0570

  • US rates EDM3US2YT=RR rallied after increase in wage costs nL2N2WQ2MI

  • US$ firms after data, USD/CNH rallied above 6.6400 before dipping slightly

  • Equities ESv1 dropped on soured risk, EUR/JPY fell to 136.50 on EBS

  • EUR/USD slid, hit 1.0510 on EBS but bear ran out of gas as US$ sales emerged

  • Rise in DE yieldsDE2YT=RR help stall the slide, EUR/USD near 1.0575 late

  • Daily RSI turns up from oversold, suggest risk of a short squeeze increases

  • Monthly techs remain bearish however, rallies are likely to be sold

  • EUR/USD longs remain cautious on US wage costs, Fed risks nL2N2WR1JS

  • For more click on FXBUZ

eurusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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