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EUR/USD Price Analysis: Euro bears dominate below 1.0720 hurdle ahead of EU inflation, US employment
EUR/USD stays defensive around 1.0690, after bouncing off a 2.5-month low, as Euro traders await the key political and economic developments surrounding Eurozone and the US early Thursday. That said, the oversold RSI (14) seems to have triggered the EUR/USD pair’s corrective bounce off the lowest levels since mid-March. However, the bearish MACD signals join a convergence of the previous support line from November 2022 and a one-month-old descending resistance line, close to 1.0720 at the latest, to challenge the Euro bulls. Even if the EUR/USD buyers manage to cross the 1.0720 hurdle, February 14’s high of ... (full story)