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EUR/USD trading around 1.2735 levels - FXStreet

FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole points out that EUR/USD is trading close to the 1.2735 area on Wednesday, with the daily RSI bearish at 48.51.

Key quotes

"On the hourly charts, the pair is struggling to rise above the 1.2740 levels today, while the RSI is inching lower towards 50.00 levels."

"Moreover, the pair failed to sustain gains above 1.2740 levels yesterday."

"Interestingly, the 1.2740-1.2730 level is also the neckline of the triple top formation witnessed in the last week on the hourly charts."

"Thus, a fresh demand for the Euros can be anticipated if the pair manages to sustain above 1.2740 levels."

"However, the pair is more likely to test 1.2690-1.2680 levels during the European session given the bearish daily RSI and the failure to rise above 1.2740 levels."

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