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EUR/USD eyeing daily 50-MA support

FX:EURUSD   Euro Fx/U.S. Dollar
Support - 1.1312-1.13, 1.1234, 1.12

Resistance - 1.1357-1.1373, 1.14, 1.1464

  • Euro's oversold status as per hourly RSI followed by a failure to sustain above 1.1357 (23.6% of 1.0517-1.1616) indicates prices could be heading lower to confluence of support in the range of 1.1312-1.13 (daily 50-MA + Blue trend line ).
  • A day end closing below 1.13 would take a steam out of bullish move and open doors for a drop to 1.1236 levels.
  • On the higher side, another day end closing above 1.1357 would signal continuation of Friday's rally to 1.14-1.1464 levels.
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