Micaella Feldstein, Research Analyst at Natixis, explains that as the daily stochastic is oversold and as the daily volatility has stabilized, they anticipate new rallies towards the 1.0730 barrier for the EUR/USD pair.
"This resistance is crucial: only its clearance would lessen the risks of a pullback to a key support at 1.0630 (weekly Bollinger moving average) and would suggest a pronounced rally to 1.08 (9-month moving average) ahead of 1.0842-1.0867 (daily Bollinger upper band). The supports stand at 1.0630, at 1.05751.0592, at 1.0550, at 1.0520-1.0535 and at 1.0444-1.0460."
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