• NY opened near 1.1590 after EUR/UD hit a 2-month high of 1.1614 in Europe

• The overnight rally was driven by USD, US yield drops

• Rallies in gold, silver and equities contributed to EUR/UDS's overnight gains

• Sellers emerged in NY however as the dollar & yields moved upward

• Equities turned down & oil rallied which helped weigh on EUR/USD

• The pair neared 1.1575 in NY's afternoon, traded up only +0.07% late in the day

• Daily inverted hammer candle formed which may be a concern for EUR/USD bulls

• Rising RSIs, pair's hold above the 10- & 21-DMAs gives bulls some comfort though
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)