💹EUR/USD ANALYSIS💹
Contrary to fundamentals, technicals are pointing lower. The Relative Strength Index on the four-hour chart is above 30, thus outside oversold conditions. Momentum is to the downside and the pair's recent stabilization has still left it under the 50, 100 and 200 Simple Moving Averages.
Overall, bears are in the lead.
Support awaits at Thursday's low of 1.1750, followed by 1.1735 and then by 1.1705.
Resistance is at 1.18, which provided support in recent days.#EUR/USD#
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