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EUR/USD trading around 1.27levels - FXStreet

FXStreet (Łódź) - According to FXStreet Editor and Analyst Omkar Godbole, EUR/USD is trading close to the 1.27 area on Tuesday, with the daily RSI bearish at 45.90.

Key quotes

"On the hourly chart, the pair has faced rejection on multiple occasions to sustain gains above 1.2720 levels, opening doors for a re-test of 1.2680-1.2670 levels today."

"The hourly RSI, though above 50, is pointing southwards."

"Moreover, a slump in prices would drag the hourly RSI below 50.00 levels, reinforcing the bearish expectations for the day."

"We could see a lackluster action in the pair so long as it trades in the range of 1.2740 to 1.2670."

"A fresh demand for the Euros can be anticipated above 1.2740 levels."

"On the other hand, prices may dip to 1.2640 levels if the bulls fail to hold the pair above 1.2670 levels."

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