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May 21 - 08:55 AM

EUR/USD - US Assets Shunned And The Euro Is Deemed Safe

By Christopher Romano  —  May 21 - 07:16 AM

• EUR/USD rallied through the 21-DMA, 1.1280/1.1300 resistance zone overnight

• Pair traded 1.1282-1.1362 on EBS, NY opened near 1.1340, pair up +0.50% early NY

• US asset selling helped drive EUR/USD to a 10-session high

• Treasuries , US$, USD/CNH sales & gold gains helped buoy

• Techs lean bullish; daily RSI is rising, pair trades above the 10- & 21-DMAs

• May's monthly long legged doji candle reinforces the bullish tech signals
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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