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Thomson Reuters
Jun 06 - 03:48 PM
EUR/USD - ECB Drives Bulls Forward
First appeared on eFXplus on Jun 06 - 02:10 PM
  • Hawkish ECB rhetoric on QE taper talk & rate hikes buoys EUR broadly
  • DE-Us spreads tighten, NY sends EUR/USD above May 23 high
  • Lift extends but falls short of 1.1800, US$ bid emerges
  • Pair slips back toward old resistance near 1.1760 late in the day
  • Short squeeze might extend until ECB and Fed meeting next week
  • RSIs give bulls a tailwind for now but long-term bear trend remains

chart: Click here

Source:
Thomson Reuters IFR Markets

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