DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 20 Jun 2017 00:18GMT
Trend Daily Chart
21 HR EMA
55 HR EMA
Trend Hourly Chart
13 HR RSI
14 HR DMI
Resumption of recent decline
1.1229 - Last Thur's high
1.1213 - Y'day's high
1.118 - Y'day's Euroepan low (now res)
1.1333 - Last Thur's low
1.1110 - May 30 low
1.1076 - May 18 low
EUR/USD - 1.1146.. Euro rose to 1.1212 (NZ) Mon following Parliamentary election win by France's Macron n then retreated to 1.1183 In Europe. Euro later hit a high of 10113 b4 tumbling to 1.1144 in NY on Fed Dudley's hawkish remarks.
On the bigger picture, euro's rally previous 1.1024 res to a 6-month top at 1.1268 in May confirms the 3-legged rise fm Jan's near 14-year low at 1.0341 has once again resumed. Despite climbing to a near 7-month peak of 1.1285 in May , then last week's 7-month peak of 1.1296, subsequent post-FOMC fall to 1.1133 (Thur) suggests temporary high has been made as this level was accompanied by 'bearish divergences' on the daily indicators. Below 1.1133 would bring stronger retrace. to 1.1068 (50% r of 1.0840), however, 1.1024 (prev. res, now sup) would contain weakness. On the upside, only abv 1.1296 would extend marginal gain but 'bearish divergences' on daily indicators should cap price at 1.1366.
Today, euro's intra-day fall fm 1.1213 to 1.1144 y'day, then intra-day brief break of this lvl suggests correction fm last Thur's 2-week low at 1.1133 has ended would extend decline fm 1.1296 to 1.1110, however, 'bullish convergences' on the hourly indicators would keep price abv 1.1176 today.
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