• NY opened near 1.1770 after EUR/UD rallied to 1.1778 in overnight trading

• The pair neared the overnight high in early action as risk sentiment was upbeat

• Risk shifted downward however; USD, US yields , oil firmed up

• USD/CNH rallied off its 6.7959 low while stocks turned down & gold eroded some gains

• EUR/USD fell to 1.1736 then bounced, it neared 1.1750 late, was near flat on the session

• A daily inverted hammer formed but EUR/USD remains above the 10- & 21-DMAs

• The May monthly doji candle could be a concern for EUR/USD bulls

• US April payroll report due Friday could impact risk sentiment
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)