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May 05 - 01:55 PM

EUR/USD - Shorts Expect Breaks Of Key Impediments

By Christopher Romano  —  May 05 - 12:28 PM
  • EUR/USD bear sentiment persists as pair hits a 12-session low today

  • Rally sellers are becoming more aggressive, bounces are shallow

  • Daily cloud top, 200-DMA & April 14 daily low are impediments for shorts

  • Falling daily, monthly RSIs imply downside momentum intact, fall to extend

  • US April jobs reports is a key risk, if upbeat impediments likely to break

  • EUR/USD bears then likely to target 1.1855/75 support zone

  • For more click on FXBUZ

eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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