• NY opened near 1.1470 after 1.1435 traded overnight, choppy action ensued early

• Buyers emerged however as USD was sold broadly & US yields

sank

• Solid gains in gold, silver & equities rallies reinforced the USD selling theme

• USD/CNH drop to a 3-1/2-year low also contributed to keeping the USD heavy

• EUR/UD rallied above the 55-DMA, hit a 1-1/2-month high of 1.1537

• The pair sat just below that high late in the day, it traded up +0.54%

• Techs lean bullish; RSIs are rising, the pair trades above the 10-, 21- & 55-DMAs

• July's monthly bull hammer, break of down trend off May 11 high add to bull signals
eurusd


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