EUR/USD: Pointing for a downward correction

The EUR/USD seems to have found a short term top in yesterday’s high of 1.3586, and points for a short term downward correction this Thursday: trading around 1.3550 support, the 4 hours chart shows indicators heading lower in positive territory, with RSI ready to reenter below the 70 level, with a pretty vertical slope. As long as below mentioned high, there’s room for a bearish movement towards the 1.3485/1.3500 level, where buying interest should resume.

A break above the daily high on contrary will expose the upside up to 1.3660 today, although with US NFP data tomorrow, market players may prefer to stay quiet today.

View Live Chart for EUR/USD


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