By Christopher Romano — Jan 20 - 02:15 PM
Rally off the Jan 18 low runs into sellers after 10-DMA briefly pierced
EUR/USD turns -ve on the ensuing slide, daily RSI diverges on the high
The falling monthly RSI implies bearish momentum is growing
January's inverted hammer candle reinforces bear sentiment
Break of key support in 1.2140/65 zone needed to give bears more control
55-DMA, 38.2% Fib 1.1602-1.2349, daily cloud top, Dec 2 low sit there
Break of that support should trigger stop, puts 1.1910/30 in play
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Source:
Refinitiv IFR Research/Market Commentary