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Apr 13 - 01:55 PM

EUR/USD - Encouraging Signs Emerge For Longs Ahead Of ECB Meeting

By Christopher Romano  —  Apr 13 - 11:50 AM
  • EUR/USD fell to a fresh 1-mo low of 1.0809 on EBS but then bounced

  • Protective bids for a likely 1.0800 barrier help to stall the pair's fall

  • ECB meeting risk likely prompts short covering on possible hawkish rhetoric

  • EUR/USD turns positive on the session, nears 1.0875/80 hourly resistance

  • Today's price actions generates bullish tech signals on daily charts

  • Daily RSI diverged on the low, daily bull hammer candle formed

  • Longs likely need above April 5 & 11 highs, 21-DMA to gain greater control

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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