EUR/USD trades below 1.11 as Trump declares national emergency
EUR/USD is trading below 1.1050 as the dollar rises alongside yields. President Trump announces a national emergency. The Fed announced another surprise buying of bonds.
The Relative Strength Index on the four-hour chart is above 30, outside oversold conditions. The currency pair is trading above the 100 and 200 Simple Moving Averages but lost the 50 SMA. Momentum is to the downside.
All in all, bears are in the lead.
Support awaits at 1.1150, the daily low, followed by the round number of 1.11, and 1.1050 is Thursday's swing low. 1.0950 and 1.0875 are next.
Resistance is at 1.1220, the daily high, followed only by 1.1325, which held the pair down on Thursday. 1.1410 and 1.1495 are next.
The Relative Strength Index on the four-hour chart is above 30, outside oversold conditions. The currency pair is trading above the 100 and 200 Simple Moving Averages but lost the 50 SMA. Momentum is to the downside.
All in all, bears are in the lead.
Support awaits at 1.1150, the daily low, followed by the round number of 1.11, and 1.1050 is Thursday's swing low. 1.0950 and 1.0875 are next.
Resistance is at 1.1220, the daily high, followed only by 1.1325, which held the pair down on Thursday. 1.1410 and 1.1495 are next.