Market News & Analysis
EUR is searching for light
Christophe Chevalier May 6, 2020 4:26 PM
From a technical point of view, EUR/USD has struck against its strong horizontal resistance at 1.0990 and still stands below its 50-day moving average (in blue). The daily RSI remains within its selling area between 50 and 30. Readers may therefore consider the potential for further weakness below resistance at 1.0990. The nearest support would be set at horizontal support at Apr. 23 low at 1.0725 and a second one would be set at set at March bottom at 1.0630 in extension.
Source: TradingView, GAIN Capital
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