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Jul 02 - 12:12 AM
EUR/USD - Gold Rally In Asia May Portend EUR/USD Recovery
First appeared on eFXplus on Jul 01 - 10:20 PM
  • The correlation between gold (XAU) ann EUR/USD has increased in recent weeks
  • Gold seen as an anti-USD trade by a segment of the investor community
  • Sharp fall in gold yesterday preceded big drop in EUR/USD by a few hours
  • Gold rallying today and is 0.44% higher at 1,390 after bottoming at 1,381
  • EUR/USD unchanged from the US close around 1.1285
  • Resistance at 21-day MA at 1.1297 with break targeting 10-day MAS at 1.1332

eur/XAU Click here

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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