By Christopher Romano — May 10 - 11:55 AM
EUR/USD fell toward key support earlier, 1.0940 hit on EBS
Rally ensued after US CPI data, 1.1007 traded but sellers emerged
Offers near the 10- & 21-DMAs helped cap the rally, slide ensued
Most of session's gains erased, traded up +0.10% at Europe's close
Daily doji formed; implies either pause in drop or rally possible
Monthly RSI falling however & monthly inverted hammer is in place
Support near 1.0940 is key for now, if breaks stops likely trigger
EUR/USD shorts then target the daily cloud top, 1.0810/30 zone
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary