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EUR/USD: Vulnerable if 1.06 breaks – OCBC

EUR/USD fell in the aftermath of the Fed’s hawkish outcome. Economists at OCBC Bank analyze the pair’s outlook.

Downside risks ahead

Mild bearish momentum on the daily chart intact while the Relative Strength Index (RSI) fell towards near oversold conditions. Downside risks ahead. 

Support at 1.0630, 1.06 levels. A break could bring the EUR/USD pair back down to the year-low of 1.0510 levels. 

Resistance at 1.0750 (21-Day Moving Average), 1.0830 levels (200-DMA).

See – EUR/USD: 1.0600/1.0610 looks like the last line of support before 1.0500 – ING

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FXStreet Insights Team

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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