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Apr 03 - 02:55 AM

EUR/USD - Struggling To Meet A Minimum Correction Level

By Peter Stoneham  —  Apr 03 - 02:00 AM
  • Healthy rebound out of a 1.0725 Tues low into a 1.0769 close

  • Early Wed and price struggling to make a minimum correction

  • A 23.6% Fibo off 1.0980-1.0725 is at 1.0785

  • A high of 1.0779 matches the Tues high

  • Key resistance at 1.0812 and 1.0833, cloud base and 200DMA, respectively

  • Bearish momentum readings are fading and RSI is rising

  • Weekly action is hugging a falling cloud top

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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