EUR/USD: Bearish sign

FXStreet Team FXStreet

EUR/USD Wednesday’s four-hour chart is painting a mixed picture, according to FXStreet’s analyst Yohay Elam.

Key quotes

“Momentum on the four-hour chart has turned negative after several positive days – a bearish sing. On the other hand, EUR/USD has topped the 100 and 200 Simple Moving Averages, but only just.”

“Resistance awaits at 1.1050, which has separated ranges in mid-March. It is followed by 1.1090, a temporary cap on the way up.”

“Some support awaits at 1.10, the confluence of the 100 and 200 SMA. The next cushion is at 1.0930, Tuesday’s low.”

Author

FXStreet Team

FXStreet

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