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EUR/USD retraces from daily high of 1.2790 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that following the release of the US jobless claims numbers EUR/USD continues sliding from its daily high of 1.2790.

Key quotes

"The 1 hour chart shows price extending below a bullish 20 SMA while indicators approached their midlines, still holding above it."

"In the 4 hours chart, indicators retrace a bit from overbought levels, but 20 SMA maintains a strong bullish slope, offering intraday support at 1.2660."

"Some follow through above 1.2780 Fibonacci resistance is required to confirm further gains while a continued slide below 1.2700/10 will put bears back in control, at least in the short term."

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