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May 20 - 08:36 AM

EUR/USD - Broad Appeal For The Euro On Recover Fund Hopes

By Christopher Romano  —  May 19 - 08:55 AM
  • Investors optimism for EU recovery fund proposal lingers nL8N2D12X2

  • The euro rallies against most major currencies and even high beta ccys

  • EUR/JPY breaks 117.75/95, hits 118.15 on EBS; EUR/GBP nears 0.8960

  • EUR/USD pierces the daily cloud base, trades to 1.09755 on EBS

  • Pair dip near 1.0940 though as US$ bid emerges, led by USD/JPY

  • EUR/USD still up nicely on the day & technicals lean bullish

  • Pair above 55-DMA, daily RSI rises, long lower wick on May's candle

  • 200-DMA & May 1 daily high (1.1019 EBS) are impediments for EUR/USD bulls














eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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