By Christopher Romano — Mar 01 - 12:21 PM
EUR/USD sinks to an 8-day low, slide stalls near key 1.2020/25 support
76.4% Fib of 1.1952-1.20435, Feb 8 & 17 daily lows sit in that zone
RSI imply bear momentum intact but a daily doji candle forms
Doji suggests a bounce could be due, will give bears a rally to sell
Rally sellers likely lurk near the 10-DMA & 1.2105/10 resistance zone
Additional sellers likely sitting near the 55-DMA & daily cloud top
1.2020/25 support looks likely to break, Feb low is then targeted
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Source:
Refinitiv IFR Research/Market Commentary