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Nov 11 - 03:55 PM

EUR/USD - Fresh 3-Month High Set As US Dollar Slide Persists

By Christopher Romano  —  Nov 11 - 01:45 PM
  • EUR/USD gained overnight on US$ sales, NY opened near 1.0290, rally extended

  • US$ selling persists with help from Eurodollar EDH3 rates falling

  • Upbeat risk drove investors out of the US$, USD/CNH fell towards 7.0800

  • Equity ESv1, commodity XAU= gains reinforced risk-on sentiment

  • U. Of Mich. downside surprise nL1N3271GG helped weigh down the dollar

  • EUR/USD probed the 1.0340/70 resistance zone, hit 1.0355 on EBS, +1.38%

  • Techs are bullish; RSIs rise, daily near overbought; 21-DMA now above 55-DMA

  • EUR/USD may near 1.0800 if structural resistance breaks nL1N32717E

  • For more click on FXBUZ





Source:
Refinitiv IFR Research/Market Commentary

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