- EUR/USD's daily chart RSI charts a bullis reversal pattern.
- The pair is yet to take out the 50-day SMA hurdle.
EUR/USD's 14-day Relative Strength Index (RSI) has carved out an inverse head-and-shoulders bullish reversal pattern.
An RSI breakout would open the doors for a re-test of the January high of 1.2349. The pair is currently trading near 1.2128, representing a 0.11% gain on the day.
The pair has been restricted to a narrow range defined by the 50-day Simple Moving Average (SMA) and 100-day SMA since Feb. 4.
A close above the 50-day SMA, currently at 1.2150, would shift the focus to 1.2349. Meanwhile, a close below the 100-day SMA, currently at 1.20, would confirm a bearish reversal. The long-term SMA held ground in early November, following which the pair charted a big rally from 1.17 to above 1.23.
|Today last price||1.2128|
|Today Daily Change||0.0011|
|Today Daily Change %||0.09|
|Today daily open||1.2117|
|Previous Daily High||1.2144|
|Previous Daily Low||1.2082|
|Previous Weekly High||1.217|
|Previous Weekly Low||1.2023|
|Previous Monthly High||1.235|
|Previous Monthly Low||1.2054|
|Daily Fibonacci 38.2%||1.2121|
|Daily Fibonacci 61.8%||1.2106|
|Daily Pivot Point S1||1.2085|
|Daily Pivot Point S2||1.2052|
|Daily Pivot Point S3||1.2022|
|Daily Pivot Point R1||1.2147|
|Daily Pivot Point R2||1.2177|
|Daily Pivot Point R3||1.2209|
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