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
Source:
Refinitiv IFR Research/Market Commentary