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Mar 16 - 01:55 PM

EUR/USD - Longs Are Close To Throwing In The Towel

By Christopher Romano  —  Mar 16 - 12:48 PM
  • EUR/USD gains off the March 9 low see further erosion today

  • Another rally above the 10-DMA fails to sustain upward momentum

  • The ensuing slide results in psychological 1.1900 support to break

  • Daily and monthly RSIs imply downside momentum is intact & building

  • Probability for break below 200-DMA, March monthly low is growing

  • Fed risk looms, if US rates/yields rally after meeting EUR/USD likely falls

  • Bears might target big support near 1.1600 should the bear trend resume

  • For more click on FXBUZ


eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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