EUR/USD’s bounce has stalled near the 50-hour average resistance. Technical charts are signaling scope for a re-test of support at 1.11. EUR/USD continues to trade in a sideways manner just below the 50-hour moving average (MA) at 1.1145, having defended the psychological support of 1.11 during Tuesday’s US trading hours. Despite the bounce, the bearish divergence of the 4-hour chart relative strength index confirmed earlier this week is still intact. Alongside that, Wednesday’s bearish inside day candle is signaling buyer exhaustion. The pair could re-test the psychological support at 1.11 on Thursday. That level is currently housing the 200-day average, which is widely considered a barometer of long-term market trends and often attracts buying or selling pressure depending on the direction in which it is breached. So, if the bulls fail to defend the 200-day average, a bigger decline may be seen. However, if the ascending 5-day average at 1.1120 holds ground, buyers will likely step in, lifting the pair to 1.12. 4-hour chart Daily chart Trend: Pullback likely Technical levels 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 Australian PM Morrison extends travel ban on China, Iran and South Korea FX Street 3 years EUR/USD's bounce has stalled near the 50-hour average resistance. Technical charts are signaling scope for a re-test of support at 1.11. EUR/USD continues to trade in a sideways manner just below the 50-hour moving average (MA) at 1.1145, having defended the psychological support of 1.11 during Tuesday's US trading hours. Despite the bounce, the bearish divergence of the 4-hour chart relative strength index confirmed earlier this week is still intact. Alongside that, Wednesday's bearish inside day candle is signaling buyer exhaustion. The pair could re-test the psychological support at 1.11 on Thursday. That level is currently housing the 200-day average,… 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.
