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EUR/USD trading at 1.2819 levels - FXStreet

FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole points out that EUR/USD rebounded from the daily low of 1.2788 and is now trading close to 1.2819.

Key quotes

"Moreover, the pair failed to sustain below the 5-day moving average level of 1.2805 as the daily and the hourly RSI continued to inch higher from the 50.00 levels."

"However, the Euro bulls have struggled to take the pair above 1.2840 levels on multiple occasions during the last week."

"Hence, fresh demand for Euros can be anticipated once the pair rises above 1.2840 levels, which can take the pair to 1.2880-1.2890 levels."

"Meanwhile, bears shall regain control if the pair fails to sustain above 1.28 levels."

"Off-late the pair has been performing well during the bouts of risk aversion in the equity markets."

"Thus, the pair is likely to trade strong today since the European equity futures and the US equity futures are pointing to a further sell-off in the markets."

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