EUR/USD: 2-way trades are likely – OCBC
Source Fxstreet
Euro (EUR) continued to trade subdued. Pair was last at 1.1645 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Recent range between 1.1580 and 1.1700 to hold
"Daily momentum and RSI indicators are not showing a clear bias for now. 2-way trades likely. Support here at 1.1630/40 levels (21, 50 DMAs) and 1.1570 levels. Resistance at 1.1730, 1.18 levels. We look for recent range in 1.1580 – 1.1700 to hold. EUR’s directional bias in the near term is largely dependent on USD and Powell’s comments."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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