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Feb 17 - 03:55 PM

EUR/USD - US Rate, Dollar Gains Erode, Troubling Signs Emerge For Shorts

By Christopher Romano  —  Feb 17 - 01:35 PM
  • Overnight US rate EDZ3, US$ drove EUR/USD to a 1-1/2-month low

  • 1.06125 hit on EBS just ahead of NY's open, NY opened near 1.0625

  • US$ selling ensued as rate gains US2YT=RR faded & risk improved

  • USD/CNH dipped below 6.8700, equities ESv1, commodities XAU= bounced

  • EUR/USD rallied above the daily cloud top, turned +ve & hit 1.0693 on EBS

  • Daily RSI diverged on the low & a daily bull hammer candle formed

  • Short-term tech signals are likely a concern for EUR/USD shorts

  • Monthly technicals remain bearish, implies rallies likely to be sold

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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