EURUSD (D) - medium term bearish bias
The euro has been falling within a well-defined channel. The upper band and the moving averages have proved to be strong resistance levels so far. The RSI divergence can be seen as a sign of possible consolidation or reversal in the coming weeks. However, the price action is expected to remain subdued until offers around 1.1080 get lifted. The immediate target can be found near the lower band around 1.0840.
Key support: 1.0900/1.0840
Key resistance: 1.1030/1.1080
The euro has been falling within a well-defined channel. The upper band and the moving averages have proved to be strong resistance levels so far. The RSI divergence can be seen as a sign of possible consolidation or reversal in the coming weeks. However, the price action is expected to remain subdued until offers around 1.1080 get lifted. The immediate target can be found near the lower band around 1.0840.
Key support: 1.0900/1.0840
Key resistance: 1.1030/1.1080
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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.