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Apr 16 - 03:55 PM

EUR/USD - Bears Retain Control, Set A Fresh 5-Month Low

By Christopher Romano  —  Apr 16 - 01:40 PM
  • NY opened near 1.0625 after 1.06025 traded on EBS overnight, rally extended

  • Pair hit 1.06535 with help from EUR/JPY rallying to 164.655 & some US$ sales

  • Pair turned down again however, yields US10YT=RR & US$ firmed again

  • Comments from Fed Chair Powell helped drive EUR/USD to a fresh 5-month low

  • Stocks ESv1 sank and gold XAU= erased some earlier gains

  • EUR/USD traded 1.06013 on EBS, was down-0.20% late in the session

  • Techs are bearish; RSIs are falling, monthly inverted hammer in place

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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