fundermental analysis
The EUR/USD pair eased on profit-taking after hitting a year’s high at 1.2309. The daily chart shows that the latest decline seems corrective, as the pair remains above all of its moving averages, which maintain their bullish bias. Technical indicators eased within positive levels, correcting overbought conditions. In the near-term, and according to the 4-hour chart, however, the pair broke below its 20 SMA, which is now flat at around 1.2270, while technical indicators head south within negative levels, suggesting the corrective decline may continue in the upcoming sessions.
Support levels: 1.2210 1.2170 1.2075
Resistance levels: 1.2260 1.2310 1.2345
Support levels: 1.2210 1.2170 1.2075
Resistance levels: 1.2260 1.2310 1.2345
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