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Nov 22 - 03:55 PM

EUR/USD - Upbeat Risk Helps Overnight Gains Extend

By Christopher Romano  —  Nov 22 - 01:35 PM
  • EUR/USD rallied overnight, hit 1.0281 on EBS, NY opened near 1.0270

  • Early US$ buys sank pair to 1.02545 but buyers emerged as US$ slid again

  • US yield US10YT=RR> slip, equity ESv1, commodity LCOc1 gains buoy risk

  • After an early bounce USD/CNH slid back towards 7.1400 to reinforce risk-on

  • EUR/USD climbed above the 10-DMA and traded 1.02985 on EBS late in the day

  • Rising daily and monthly RSIs imply upside momentum is in place

  • EUR/USD shorts need structural support breaks to gain control nL1N32I14Q

  • November S&P Global PMIs for Australia, EZ, US are data risks Wednesday

  • Minutes of Fed's November 1-2 meeting is an event risk for Wednesday

  • For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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