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May 22 - 03:55 PM

EUR/USD - Longs Play Defense On Dollar, Yield Gains

By Christopher Romano  —  May 22 - 02:20 PM
  • NY opened near 1.0840 after 1.08633 traded on EBS overnight, drop extended

  • US$ buying driven by yield US2YT=RR gains weighed on the pair

  • USD/CNH rally to 7.2550, equity ESv1 & gold XAU= falls added weight

  • EUR/USD pierced the 10- & 21-DMAs, 1.0822 hit on EBS then pair bounced

  • Pair sat near 1.0840 and was down -0.15% heading into the Fed minutes

  • Muted reaction to the Fed minutes, US$ firmed a bit, EUR/USD neared 1.0830

  • Techs are mixed; monthly RSI is rising but daily RSI is falling

  • US weekly claims and May S&P Global PMIs are key data risks Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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