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Nov 24 - 11:55 PM

EUR/USD - Light Short Covering To Relieve Over-Sold Conditions

By John Noonan  —  Nov 24 - 10:10 PM
  • EUR/USD opened 0.44% lower at 1.1200 after USD firmed on strong US data

  • It never traded below 1.12000 and drifted up to 1.1213

  • Heading into the afternoon it is at the highs for the session

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

  • RSI reading is at deeply over-sold reading and may have to correct

  • Resistance is at the 10-day MA at 1.1301 and break eases pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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