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EURUSD finds support at the 200-day SMA
video EURUSD had been trading sideways since the beginning of the year following its pullback from the December high of 1.1138. The pair spiked lower on Tuesday, but the congested region that includes the 200-day simple moving average (SMA) and the top of the Ichimoku cloud rejected further retreats. Considering that both the RSI and stochastics are deep in their negative zones, the price could revisit its recent support of 1.0843, which overlaps with the 200-day SMA. Piercing through that wall, the pair may challenge the December bottom of 1.0722. Even lower, the 1.0634 barricade could provide downside protection. ... (full story)
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- Posted: Jan 18, 2024 6:55am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 2,959
