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TDUX
Oct 08 - 03:55 PM
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EUR/USD - Losses Erased With Help From US Dollar, Yield Turns

By Christopher Romano  —  Oct 08 - 01:39 PM

• NY opened near 1.1185 then extended its overnight drop in early trading

• 1.1172 traded but bears ran out of gas as USD buying abated

• US yields turned lower to help drive broad-based USD selling

• Gold gains, silver's upward move, USD/CNH drop from its high reinforced USD sales

• EUR/USD hit 1.1226, sat near 1.1215 late in the session and traded up +0.16%

• Techs lean bearish; pair below 10-DMA & consolidating drop from Sept. 25 high

• Falling monthly RSI, widening Bolli bands adds to bearish signals
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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