#EURUSD @ 1.03929 : Technicals limit upside potential – Nordea
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
EUR/USD slips back to the sub-1.0400 area at the end of the week. Economists at Nordea believe that the pair has limited upside potential.
“We believe that EUR/USD will be range bound in the weeks to come.”
“When looking at technicalities it would seem the upside in EUR/USD is capped as the cross has risen close to the 200-Day Moving Average, which is a solid resistance level. Moreover, the 14 day Relative Strength Index is close to 70, a level suggesting the USD is oversold against the EUR.”
“From a fundamental perspective, two-year interest rate differentials between EUR and USD argues for lower EUR/USD, while investors are positioned for a higher EUR/USD.”
[/s2If]
Join Our Telegram Group
