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Home » Daily Technical Reports » EUR/USD Today Technical Report 26/04/2016

EUR/USD Today Technical Report 26/04/2016

EUR/USD edged higher on Monday but the move stayed capped below the 200-period moving average and below our 1.1290 (R1) resistance level. I still believe that the next move in the pair will be down and a decisive break of the 1.1215 (S1) zone could open the way for the next support hurdle at 1.1175 (S2). Our short-term indicators detect somewhat negative momentum and support that the pair could continue trading lower in the near term. The RSI stands below its 50 line, while the MACD, already below its zero line, fell below its trigger line. As for the broader trend, EUR/USD is still trading within a wide range between the 1.0800 key obstacle and the psychological area of 1.1500. As a result, I would consider the longer-term path to be sideways.

EURO 26

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