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27 Mar 2015
EUR/USD could dip to 1.0826 – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, technicals remain supportive of a move lower in EUR/USD, 1.0826 being the immediate downside target.
Key Quotes
“On the charts, the pair, currently at 1.0883, trades below 1.0911 (23.6% Fib retracement of 1.0461-1.1049). The daily RSI has also been pushed below 50.00 levels, indicating further room for a decline in the pair.”
“The pair is also struggling to rise above 5-MA on the 4-hour chart. The RSI is also bearish on the hourly and 4-hour time frame.”
“Thus, we could see the pair drop to 1.0826 (38.2% Fib retracement of 1.0461-1.1051).”
“On the other hand, a rise above 1.0911, could see the pair re-test 1.0960-1.0970.”
Key Quotes
“On the charts, the pair, currently at 1.0883, trades below 1.0911 (23.6% Fib retracement of 1.0461-1.1049). The daily RSI has also been pushed below 50.00 levels, indicating further room for a decline in the pair.”
“The pair is also struggling to rise above 5-MA on the 4-hour chart. The RSI is also bearish on the hourly and 4-hour time frame.”
“Thus, we could see the pair drop to 1.0826 (38.2% Fib retracement of 1.0461-1.1051).”
“On the other hand, a rise above 1.0911, could see the pair re-test 1.0960-1.0970.”