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Jan 21 - 03:55 PM

EUR/USD - After Wild Price Swings Bulls Hold The Advantage

By Christopher Romano  —  Jan 21 - 01:35 PM

• NY opened near 1.0355 after EUR/USD traded 1.04343-1.0353 on EBS overnight

• The US$ buying the drove that overnight slide abated into NY's open

• EUR/USD rallied & turned positive; USD/CNH drop below 7.2600 aided the rally

• Soft US yields , gold & equity gains also buoyed

• EUR/USD traded near 1.0425 late, pair was up +0.08% late in the session

• Daily techs lean bullish; 5- & 21-DMAs, structural support near 1.0340 held

• Monthly bull hammer candle & rising monthly RSI reinforce bullish signs
eurusd


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

Source:
London Stock Exchange Group | Thomson Reuters

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