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May 14 - 03:55 PM

EUR/USD - US Dollar And Yen Buys Help Erase Most Session Gains

By Christopher Romano  —  May 14 - 01:39 PM

• NY opened near 1.1230 after 1.12655 traded on EBS in Europe's morning, pair then slid further

• US$ buying and a turn upward for US Treasury yields weighed down EUR/USD

• USD/CNH rally and drops in gold and EUR/JPY added additional weight on EUR/USD

• Pair neared 1.1175 before slightly bouncing, 1.1195 neared late, pair up only +0.07% late

• Daily gravestone doji candle formed which may be a concern for EUR/USD bulls

• Falling monthly RSI & hold below resistance near 1.1300 may also worry EUR/USD longs

• Euro zone Q1 GDP and US jobless claims & April PPI, retail sales are data risks Thursday
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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