The EUR/USD trades in a tight range in this European session, capped below former year low of 1.3476, and with a fresh one so far at 1.3454, measly 20 pips on the day. With no much news coming from Europe, the pair seems unable to catch momentum either side of the board, albeit the downside continues to be favored. Some large buying interests are reported to be around 1.3450, so it will take a downward acceleration trough the level to overcome those and extend the decline.
Technically, the bearish tone remains firm, with 20 SMA now around 1.3500 and indicators still heading lower despite RSI stands in oversold levels: below mentioned support, 1.3400/10 area comes as immediate short term target, followed by the 1.3355 price zone. Above 1.3500, some upward correction is possible towards 1.3535 area, yet further gains are not seen for today.
View Live Chart for EUR/USD
Technically, the bearish tone remains firm, with 20 SMA now around 1.3500 and indicators still heading lower despite RSI stands in oversold levels: below mentioned support, 1.3400/10 area comes as immediate short term target, followed by the 1.3355 price zone. Above 1.3500, some upward correction is possible towards 1.3535 area, yet further gains are not seen for today.
View Live Chart for EUR/USD
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