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EURUSD inches lower - FXStreet

FXStreet (Barcelona) - Omkar Godbole, FXStreet Analyst notes that EUR/USD pair finished yesterday at 1.2421 levels, after having faced rejection at the resistance located at 1.25 levels.

Key Quotes

"The pair has inched lower today, trading at 1.2420 levels, with the daily RSI bearish at 36.24 levels. Moreover, the prices declined after having struggled to rise above the 5-day moving average level of 1.2429 today."

"Furthermore, the hourly chart shows the pair struggled near the resistance at 1.2439 levels, while the hourly RSI is bearish at 41.10 levels. Thus, the pair is more likely to test 1.2380-1.2370 levels today. Meanwhile, the EUR bulls are unlikely to have a say so long as the pair trades below 1.25 levels."

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