- The EUR/USD has carved a lower high along the downward sloping 50-hour simple moving average (SMA) and 100-hour SMA in the last 24 hours.
- The hourly RSI is printing bearish levels below 50.00.
- The 5-day and 10-day SMAs are trending south, indicating a bearish setup.
- As a result, the spot could soon find acceptance below the rising channel support of 1.1463 and drop to 1.1439 (previous day's low) and 1.1432 (double bottom).
Spot Rate: 1.1466
Daily High: 1.1475
Daily Low: 1.1461
R1: 1.1480 (5-day EMA)
R2: 1.1501 (10-day EMA)
R3: 1.1550 (Oct. 22 high)
S1: 1.1463 (channel support)
S2: 1.1432 (double bottom)
S3: 1.14 (psychological support)
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