EUR/USD

Updated: 1 day ago
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Since the US Dollar Index reverse after its 15 daily up trek falls further overnight and now posts an intraday low of 98.78.

The US Dollar Index, which measures the greenback strength against a basket of six major currencies, is expected to remain on the bearish path until the challenge of 98.00-30.

Meanwhile, this in terms gives the Eurodollar bulls the opportunity in taking the challenge towards the region of 1.0890 or possibly extending to 1.0935-50.

At present, the RSI is near the overbought zone while the MACD has also gained a bullish short-term from the breakout above the 0.00 axis.

Looking towards 1.0890, to 1.0935-50, should allow adding or renewing bearish positions as it is not expected to see prices of upholding from this region.

Conversely, a break of 1.0755 would increase the downside bias to the next target of 1.0670.

Levels 1st 2nd 3rd
Resistance 1.0890 minor 1.0935-50 1.1015-25
Support 1.0835 minor 1.0755 1.0670
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