Technical Analyst & Trader @ Vikinsa
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EURUSD dives below 1.1000 key level
EURUSD has gained some momentum, flirting with the three-week high of 1.1000 in the previous sessions, before dropping slightly lower. The technical indicators appear weak, as the MACD is flattening near its trigger line in the positive area and the RSI keeps moving marginally below the overbought region. The 20-period simple moving average (SMA) currently at 1.0925 could be a trigger point for steeper bearish action if the pair manages to break the red Tenkan-sen line. Lower, support could run towards the blue Kijun-sen line at 1.0893 and the 40-period SMA 1.0873. If the bears hold the control the 1.0850 barrier ... (full story)