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Feb 16 - 03:55 PM

EUR/USD - Data, Fed Influences Fade; Techs Act Magnetically

By Christopher Romano  —  Feb 16 - 01:35 PM
  • NY opened near 1.0710 after EUR/USD traded 1.07225 on EBS overnight

  • US rates EDZ3, US$ rallied on data nL1N34V2H3, Fed's Mester nL1N34W136

  • EUR/USD fell below the daily cloud top, 23.6% Fib of 0.9528-1.1034

  • Pair struck a 1-1/2-month low of 1.0655 on EBS but a bounce then ensued

  • US$, rates softened; USD/CNH turned -ve, stocks ESv1 & commodities lifted

  • EUR/USD hit 1.0696 on EBS, sat near 1.0685 late, traded down -0.01%

  • Techs lean bearish; pair below 10- & 55-DMA, monthly RSI is falling

  • Fed, US data keep EUR/USD downside risks elevated nL1N34W1IY

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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