EURUSD (1H) - intraday bearish bias
The euro came to a halt around the 20-hour moving average after overwhelming selling interests pushed the rate 20 pips lower this morning. We would expect more sellers to join the ranks before the price tests the major floor of 1.0990. The downtrend will remain intact as long as the price stays below MAs. In the meantime, the RSI indicator suggests an over-extension to the downside and a temporary retracement would give the short-side an opportunity to get in at a better price.
Key support: 1.0990
Key resistance: 1.1030
The euro came to a halt around the 20-hour moving average after overwhelming selling interests pushed the rate 20 pips lower this morning. We would expect more sellers to join the ranks before the price tests the major floor of 1.0990. The downtrend will remain intact as long as the price stays below MAs. In the meantime, the RSI indicator suggests an over-extension to the downside and a temporary retracement would give the short-side an opportunity to get in at a better price.
Key support: 1.0990
Key resistance: 1.1030
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.