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EUR/USD trading close to 1.2752 area - FXStreet

FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole observes that EUR/USD is trading in mid-1.27 on Monday, following last week's rise to 1.2838.

Key quotes

"Moreover, the prices struggled to breach the 1.2840 resistance levels since Thursday which pushed the pair lower."

"The pair is trading lower at 1.2752 levels today, after the prices failed to take out the 5-day moving average resistance level of 1.2764."

"Given that the daily RSI is hovering below 50.00, we could see the pair falling to 1.2740 levels. On the hourly chart, a breach of 1.2730-1.2740 support levels can send the pair down to 1.2660 levels."

"The hourly RSI, too, is pointing to a further sell-off in the pair. The failure to sustain above 1.28 levels has shifted the momentum in favor of the bears."

"Meanwhile, the bulls may be able to regain control if the pair manages to rise above 1.2840 levels."

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