• EUR/USD hit 1.1376 overnight, buyers emerged and the pair turned positive

• 1.1401 traded in Europe, NY opened near 1.1385, pair was up +0.08%

• Lower USD, US yields , USD/CNH helped drive EUR/USD's gains

• Oil's drop & rallies in gold, silver, equities added buoyancy to EUR/USD

• Despite the gains technical signals still highlight downside risks

• EUR/UDS remains below the 10- & 21-DMAs and trend line off May 11 high

• Monthly inverted hammer candle, falling monthly RSI add to bear signals

• US July S&P Global PMI, June new housing sales are risks in NY's morning
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)