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Flash: EUR/USD looks technically bearish - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at EUR/USD from a purely technical perspective and believes that spot looks bearish ahead.

He begins by noting that spot is up on the week and he has a bearish view. Looking on a daily chart he notes that spot has been unable to sustain momentum above the 200D SMA, which suggests a short-term top has been reached. he writes, “Also with bandwidth falling, it indicates that spot is likely to range. The RSI has also ticked lower. Our target is 1.2960 (20D SMA).”

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