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May 28 - 05:55 PM

EUR/USD - Bulls Cling To Gains

By Christopher Romano  —  May 28 - 01:50 PM
  • NY opened near 1.0875 after 1.08555 traded on EBS overnight, rally extended

  • Lower US yields, equity ESv1 & gold XAU= gains helped drive EUR/USD up

  • 1.0889 hit, sellers emerged as US$ buying ensued, yields US10YT=RR rallied

  • EUR/USD dropped to 1.0858 then neared 1.0870 late, traded up +0.12%

  • Techs are bullish; RSIs imply upward momentum in place, 10-DMA lends support

  • German June GfK consumer sentiment, French May consumer confidence due Wed.

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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