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EUR/USD pair ended lower yesterday at 1.2450 – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole notes the EUR/USD pair ending lower yesterday at 1.2450, after facing rejection at the technical resistance at 1.2578 levels.

Key Quotes

“The pair trades at 1.2472 levels today, with the daily RSI bearish at 42.93 levels. Moreover, the pair has re-entered the last week’s trading range of 1.2410-1.25.”

“Yesterday’s close reinforced the bears since the pair ended below the short-term moving averages – 5SMA and 10SMA. The prices are currently struggling near 5SMA level at 1.2472.“

“Meanwhile, on the hourly chart, the pair has repeatedly failed to rise above 1.2477 levels, while the RSI at 47.00 points to a further slide in the pair.”

“Thus, the pair more likely to test 1.2440 and 1.2410 levels today. On the other hand, a daily close above 1.2530 shall bring the EUR bulls back in the game.”

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