EUR/USD is holding above 1.2250 but Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, spots a negative divergence on the daily RSI which warrants caution. Nonetheless, the pair still targets 1.2624, the 200-month moving average, in the long-term. Key quotes “On a medium-term view, EUR/USD continues to track higher whilst targeting the 1.2556 2018 high and 1.2624, the 200-month moving average, which remains our longer term target. Short-term, the currency pair may form a minor top first, though, since negative divergence can be spotted on the daily RSI.” “The EUR/USD pair remains bullish while it trades above the 1.2210 late December low. Only failure there would put the early December high at 1.2177 back on the cards. Further minor support below the next lower 1.2130 December 21 low should find initial support at 1.2058, the December 9 low. Still further support can be spotted at the 1.2014 September peak.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Manufacturing PMI Preview: Prospects of future recovery to lift the dollar FX Street 1 year EUR/USD is holding above 1.2250 but Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, spots a negative divergence on the daily RSI which warrants caution. Nonetheless, the pair still targets 1.2624, the 200-month moving average, in the long-term. Key quotes “On a medium-term view, EUR/USD continues to track higher whilst targeting the 1.2556 2018 high and 1.2624, the 200-month moving average, which remains our longer term target. Short-term, the currency pair may form a minor top first, though, since negative divergence can be spotted on the daily RSI.” “The EUR/USD pair remains bullish while it trades above the 1.2210 late… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.