TipTVFinance

EUR/USD – rebounds from key Fibo, eyes daily 50-MA

FX_IDC:EURUSD   Euro Fx/U.S. Dollar
Resistance – 1.1275, 1.1308, 1.1342

Support – 1.1236, 1.1211, 1.1190

  • Euro’s rebound from 1.1236 (38.2% of 1.0463-1.1714) amid bullish price RSI divergence on hourly chart and broad based risk-off in equities indicates the currency could head higher towards daily 50-MA of 1.1308 levels.
  • On the higher other hand, an hourly close below 1.1236 would shift risk in favor a drop to rising trend line support at 1.1190.
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