The EURUSD currency pair is displaying mixed signals. The shorter-term Simple Moving Average (SMA) is on the verge of crossing below the longer SMA, which can be interpreted as a potential bearish signal. However, the Relative Strength Index (RSI) has moved from 60 to around 50, suggesting a moderation in upward momentum. Traders should exercise caution and closely monitor price action and additional indicators to assess the pair’s future direction.
• There is a resistance level at 1.08822; followed by resistance at 1.10043 and 1.10642.
• There is a support level at 1.05170. Below, there are 1.06321 and 1.06784.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
September 15, 2023