By Christopher Romano — Dec 30 - 01:00 PM
EUR/USD buyers emerged ahead of the 10-DMA in Europe's morning
1.06385 hit on EBS overnight, rally ensued, NY opened near 1.0675
Whippy price action took hold early NY as US$ firmed, stocks ESv1 sank
1.0646 hit on EBS but rally ensued as US$ sank, UDS/CNH neared 6.9050
Commodity XAU= gains, equity bounce helped drive US$ down again
Nikkei report on BOJ inflation forecast nFWN33K0U5 added weight on US$
EUR/USD rallied to a fresh 11-session high, hit 1.07115 on EBS late
EUR/JPY hold below 140.50 likely helped to limit EUR/USD gains
Techs are bullish; daily bull hammer formed, 10-DMA lends support
Rising daily & monthly RSIs imply upside momentum remains in place
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Source:
Refinitiv IFR Research/Market Commentary