EUR/USD: Bearish divergence? – OCBC

FXStreet Insights Team FXStreet

Euro (EUR) dipped on Trump’s mention of 25% tariff on EU vs US Dollar (USD), although no effective date was mentioned. Tariff uncertainty should weigh on EUR. Pair was last seen at 1.0478 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Tentative signs of bearish divergence on MACD emerging

"Bullish momentum on daily chart shows signs of fading though still intact while RSI slipped. Tentative signs of bearish divergence on MACD emerging. Resistance at 1.0520 (100 DMA) likely to cap upside for now. Beyond this sees next resistance at 1.0575 (38.2% fibo retracement of Sep high to Jan low). Support at 1.0420/30 levels (21 DMA, 23.6% fibo), 1.0390 (50 DMA)."

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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