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Thomson Reuters
May 02 - 03:48 PM
EUR/USD - Short Covering Takes Hold On Fed
First appeared on eFXplus on May 02 - 02:15 PM
  • Fed statement not seen as overly hawkish, US$ and UST yields slip
  • DE-US yield spreads tighten a bit, EUR/USD bounces from day's low
  • Pair nears flat on the day and a daily doji candle forms
  • Bulls need close above 200-DSMA and 1.2030/35 to ease some bear pressure
  • Long term techs remain solidly bearish, rallies likely to be sold still

chart: Click here

Source:
Thomson Reuters IFR Markets

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