EUR/USD: lower and lower
Tatiana Norkina, FBS analyst
As expected earlier, having bounced from the 1.0900 figure, the currency pair continued its tumble. Within the past days, the prices have approached the 2003 lows, dropping to the 1.0650 area. The market situation is strictly bearish, which is confirmed by all indicators under consideration.
At the same time, we must not forget about the pair's oversoldness: RSI has been below the 30th mark for several days, and the Chinkou line is in the corresponding zone. The nearest strong support is around the 1.0500 figure, which could be used by the for short-term bulls for corrective recovery.
Technical levels: support – 1.0500; resistance – 1.0740, 1.0780.
1. Sell — 1.0740; SL — 1.0780; TP1 — 1.0650; TP2 — 1.0600.