EUR/USD Price Analysis: Technical outlook
The formation of an ‘evening star’ chart pattern could pave the way for a drop below the 1.0800 figure. Momentum in the EUR/USD is tilted to the downside as the Relative Strength Index (RSI) aims lower and beneath the 50-midline level. A breach below 1.0800 will expose the April 2 low of 1.0724, ahead of 1.0700. On the other hand, buyers will face stirring resistance at the confluence of the 50 and 200-DMAs at around 1.0828/32.
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