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Apr 09 - 03:55 PM

EUR/USD - Bulls Slip After Fresh High Set, Troubling Signs Emerge

By Christopher Romano  —  Apr 09 - 01:50 PM
  • NY opened near 1.0865 after 1.0849 traded on EBS overnight, rally extended

  • US yield US2YT=RR drop drove broad US$ selling; EUR/USD hit 1.0885 on EBS

  • A bout of risk aversion hit the markets; safe-havens were sought after

  • EquitiesESv1 turned lower, gold XAU= pulled back, EUR/JPY fell to 164.57

  • USD/CNH bounce above 7.2440 helped to add some weight upon EUR/USD

  • EUR/USD fell to 1.08515, little bounce seen; pair was down -0.06% late

  • Daily inverted hammer, diverging daily RSI are signals concerning to longs

  • US March CPI & its impact on Fed policy is the main risk Wednesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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