EUR/USD: bears stopped at 1.0500
Tatiana Norkina, FBS analyst
The 1.0500 figure has suspended the currency pair rate decline. For the past few days, consolidation above this level has been going on on the market, but the four-hour Ichimoku indicator is still showing the sellers' superiority. Indeed, the Tenkan and Kijun lines are keeping the dead cross relevant, while the Ichimoku cloud is expanding downwards. Therefore, the pair is very likely to continue its decline, after another testing of the Tenkan-sen line levels.
Technical levels: support – 1.0500; resistance – 1.0570, 1.0600.
1. Sell — 1.0570; SL — 1.0600; TP1 — 1.0500; TP2 — 1.0450.