"EUR/USD Near 1.0650 Awaits CPI"
EUR/USD is currently consolidating above the 20-day Simple Moving Average (SMA), facing a significant resistance level at 1.0630. The chart indicates a wider upward range, with the Relative Strength Index (RSI) and Momentum showing higher levels. However, the overall trend remains bearish.
On the 4-hour chart, the pair is testing the 1.0630 region, which contains the descending trendline while slightly staying above the uptrend line. Technical indicators are inconclusive, with the RSI near 70, Momentum moving sideways, and MACD showing no reliable signals. A strong breakthrough above 1.0635 would strengthen the Euro's outlook, targeting 1.0670. Conversely, crucial short-term support lies at the 20-day SMA around 1.0570, with the next target at 1.0555 below that.
Stay tuned for further updates as the EUR/USD pair continues to navigate these key levels.
On the 4-hour chart, the pair is testing the 1.0630 region, which contains the descending trendline while slightly staying above the uptrend line. Technical indicators are inconclusive, with the RSI near 70, Momentum moving sideways, and MACD showing no reliable signals. A strong breakthrough above 1.0635 would strengthen the Euro's outlook, targeting 1.0670. Conversely, crucial short-term support lies at the 20-day SMA around 1.0570, with the next target at 1.0555 below that.
Stay tuned for further updates as the EUR/USD pair continues to navigate these key levels.
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