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EUR?USD to push lower to 1.2390? - FXStreet

FXStreet (Barcelona) - Omkar Godbole, FXStreet Analyst notes that the EUR/USD pair ended lower on Wednesday at 1.2435, after prices struggled to rise above a resistance at 1.2484.

Key Quotes

"The pair is trading around 1.2440 levels today with the daily RSI bearish at 39.29 levels. On the hourly charts, the pair is struggling to rise above 1.2450 levels today, while the hourly RSI at 46.00 levels is indicating further room for a fall."

"Moreover, the pair failed to rise above the inverted head and shoulder neckline resistance on the hourly chart located at 1.2484."

"Thus, a fresh selling pressure can be anticipated which could push the pair down to 1.2390 levels. Meanwhile, a fresh demand for Euros may be seen if the pair manages to rise above 1.2484 levels."

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