EUR/USD eyeing daily 50-MA support

6 ביוני 2016

Support - 1.1312-1.13, 1.1234, 1.12

Resistance - 1.1357-1.1373, 1.14, 1.1464

• Euro's oversold status as per hourly RSI followed by a failure to sustain above 1.1357 (23.6% of 1.0517-1.1616) indicates prices could be heading lower to confluence of support in the range of 1.1312-1.13 (daily 50-MA + Blue trend line).
  

• A day end closing below 1.13 would take a steam out of bullish move and open doors for a drop to 1.1236 levels.
  

• On the higher side, another day end closing above 1.1357 would signal continuation of Friday's rally to 1.14-1.1464 levels.