Oversold Signals Spotted as EUR/USD Nears 1.06 Level

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FxNews—The EUR/USD pair dipped after it tested the 50-period simple moving average. The pair is currently testing the 1.066 support while the RSI and Stochastic signal oversold, and the Awesome Oscillator shows divergence.

The downtrend will likely resume after the mild consolidation near 1.076. Please note that a dip below support will trigger a new bearish wave that could extend to 1.06.

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