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Dec 30 - 05:55 PM

EUR/USD - Bulls In Charge At Year-End On Broad Dollar Weakness

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

  • For more click on FXBUZ














Source:
Refinitiv IFR Research/Market Commentary

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