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Oct 16 - 03:55 PM

EUR/USD - Weak Dollar, Buoyed Risk Gives Longs Some Traction

By Christopher Romano  —  Oct 16 - 01:35 PM
  • EUR/USD opened NY near 1.0530 after rallying overnight, rally extended

  • Pair pierced the 10-DMa and struck 1.0565 on EBS before dipping a bit

  • US$ weakness drove most of EUR/USD's rally; USD/CNH dipped below 7.3100

  • Equity ESv1 gains & oil LCOc1 drop likely added to EUR/USD buoyancy

  • EUR/USD slid below the 10-DMA but was trading up +0.32% late in the session

  • Techs are mixed; monthly doji in place, daily RSI rising, pair below 21-DMA

  • German October ZEW & US September retail sales are data risks for Tuesday

  • Remarks from ECB's Jochnick & slew of Fed speakers are event risks Tuesday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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