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May 22 - 04:55 PM

EUR/USD - Bid For US Assets Puts Bulls On Defense

By Christopher Romano  —  May 22 - 01:41 PM

• NY opened near 1.1295 after 1.13445 hit on EBS overnight, drop then extended

• Investors sought out US assets which weighed on euro & underpinned the US$

• Bonds , USD/CNH, stocks rallied while gold fell nearly -0.70%

• Wider German-US 2-year spread helped to pressure EUR/USD lower

• EUR/USD hit 1.1255 late in NY's afternoon, the pair traded down -0.62%

• Move below 10- & 21-DMAs, falling daily & monthly RSIs may worry bulls
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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