EUR/USD
EUR USD
- USD (-)
- Real time data - Forex
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Type: Forex
Ticker: EURUSD
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EUR/USD - Failed to Jump Above 1.0830 - 03/24/2017 (GMT)

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  • Timeframe : Daily

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The euro traded lower and weakened further against the greenback over the last couple of days as well as early this morning. Following the rebound on the 1.0830 resistance level, the EUR/USD pair fell more than 0.4% and is moving towards the next support at 1.0720. However, the price is printing the fourth positive week in a row and added 1.8% at its value so far this month. Moreover, if the price climbs above 1.0830, we could see a run until the 50-weekly SMA near 1.0950.

From a technical point of view, the trend remains bullish on a medium-term basis as MACD and RSI are rising. On the daily chart, the stochastic oscillator is moving lower after the bounce off the overbought area whilst the RSI indicator is falling and is approaching its mid-level.
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