Technical analytics


A minor technical correction is underway in the European session today. The euro is regaining lost footing versus its American counterpart. The pair found a decent support around 1.1850. Besides, the EMA200 supported the spot. The price bounced from the oversold area and reversed some losses. Buyers pushed the price to 1.1900 by noon. The resistance resides at 1.1900, the support comes in at 1.1850.

We believe that the euro will continue with its recovery today. Buyers would try to lead the major to 1.1950.

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