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TDUX
Sep 21 - 04:55 PM

EUR/USD - Early Gains Erased As US Dollar, Yields Strengthen

By Christopher Romano  —  Sep 21 - 01:43 PM

• NY opened near 1.1480 after EUR/USD traded 1.1494-1.1471 overnight

• EUR/USD rallied early as USD, US yields , USD/CNH slid

• Rallies in stocks & upward moves in gold, silver contributed to buoying EUR/USD

• 1.1496 traded, the pair then fell as USD, yields firmed & spreads widened

• EUR/USD neared 1.1465 in NY's afternoon, it traded down -0.17% late in the day

• Techs lean bearish; RSIs indicate downward momentum, pair is below 10-, 21- & 55-DMAs

• Bear flag on daily charts, move below 61.8% Fib of 1.1325-1.1711 reinforce bear signals
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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