FXstreet.com (San Francisco) - After rising around 60 pips in the latest couple of hours from 1.2215, the EUR/USD breaks above 1.2250 and reach levels close to 1.2270 where the EUR/USD has retreated towards 1.2250 again.
The EUR/USD is currently trading at 1.2260, falling 0.28% so far today from opening price action. The pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.
From a technical point of view, "negative hourly studies and indicators on 4h chart pointing lower, with price action moving below 20/55 EMA, seeing potential for further weakness", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Loss of 1.2200 to open 1.2188/74, ahead of key ones at 1.2161/50, loss of which to resume longer-term downtrend".
"At the upside, today's intraday low and 20/55 day EMA's crossover at 1.2265, offer strong barrier, ahead of key 1.2300/15 zone", he says.
The EUR/USD is currently trading at 1.2260, falling 0.28% so far today from opening price action. The pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.
From a technical point of view, "negative hourly studies and indicators on 4h chart pointing lower, with price action moving below 20/55 EMA, seeing potential for further weakness", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Loss of 1.2200 to open 1.2188/74, ahead of key ones at 1.2161/50, loss of which to resume longer-term downtrend".
"At the upside, today's intraday low and 20/55 day EMA's crossover at 1.2265, offer strong barrier, ahead of key 1.2300/15 zone", he says.
