EUR/USD remains on the rear foot for over per week.
200-HMA, multiple highs since Assumption limit near-term upper side.
With the short-run key resistance-confluence has with competence been limiting the EUR/USD pair’s upper side, the quote drops to one.1073 throughout Asian session on Friday.
Prices ar currently seemingly declining towards one.1066/63 space as well as latest lows whereas August 01 bottom around one.1027 becomes the key support to look at.
On the upper side, multiple superior since {august one5|Assumption|Assumption of Mary|August 15|holy day of obligation} and 200-hour moving average (HMA) emphasize the importance of 1.1113/20 region because the resistance, a chance of which may quickly propel costs to one.1132 and sixty one.8% Fibonacci retracement level of one.1167.
It ought to even be noted that 12-bar moving average convergence and divergence (MACD) indicator recently flashed pessimistic signal on the hourly chart.
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