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Nov 24 - 07:55 PM

EUR/USD - Fresh 2021 Low As Trend Lower Continues

By John Noonan  —  Nov 24 - 06:06 PM
  • EUR/USD opens -0.44% after USD gained on strong US data and hawkish Fed nL1N2SF2S7

  • EUR/USD trending lower with 5, 10 and 21-day MAs in a bearish alignment

  • Daily RSI at extremely low reading (25.9) warning conditions are over-sold

  • EUR/USD may have to consolidate or bounce to relieve over-sold set up

  • Resistance is at the 10-day MA at 1.1325 and break would relieve pressure

  • There isn't any support of note ahead of 76.4 of 2020/21 move at 1.1040

  • Option strikes around 1.1200 may limit price action ahead of US holiday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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