EUR/USD turns modestly weak to 1.1090 after pulling back from the three-day top during early Wednesday.
The quote now seems to decline towards more than a week-long rising trend line, at 1.1070, whereas 100-bar Simple Moving Average (SMA) near 1.1050/53 could restrict further weakness.
In a case where prices keep trading south after 1.1050, 23.6% Fibonacci retracement of November month fall, at .1027, followed by the previous month low close to 1.0980 can please sellers.
The quote now seems to decline towards more than a week-long rising trend line, at 1.1070, whereas 100-bar Simple Moving Average (SMA) near 1.1050/53 could restrict further weakness.
In a case where prices keep trading south after 1.1050, 23.6% Fibonacci retracement of November month fall, at .1027, followed by the previous month low close to 1.0980 can please sellers.