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Mar 08 - 01:55 PM

EUR/USD - Rally Sellers Likely Lowering Offers Again

By Christopher Romano  —  Mar 08 - 12:18 PM
  • US 10-yr yield rise, eurodollar price drop drives broad based US$ buying

  • EUR/USD breaks below the 61.8% Fib of 1.1602-1.2349, hits 3.5-month low

  • Trend line off the 2011 yearly high is getting probed from the topside

  • Daily RSI oversold, not diverging; monthly RSI falls, bear momentum intact

  • Rally sellers likely becoming more aggressive, could be lowering offers

  • 1.1885/95 area was old support, likely now to turn into resistance

  • That zone could see rally sellers now placing offers there

  • Test of 200-DMA & 1.1750/80 support zone seem probable

  • For more click on FXBUZ




eur/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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