Back
11 Mar 2015
EUR/USD might see a correction towards 1.0750 – FXStreet
FXStreet (Barcelona) - As risk aversion rises, FXStreet Editor and Analyst, Omkar Godbole, views the EUR/USD might undergo a correction towards 1.0750, with technicals supporting the view.
Key Quotes
“On the hourly charts, the RSI has confirmed a bullish divergence, which could see the pair rise to 1.0750 and 1.0783 (hourly 50-MA).”
“The daily RSI too, is deep into the oversold territory. Thus, a technical correction in the wake of risk aversion in the stock markets could be possible.”
“However, the immediate gains are likely to be capped around the 5-DMA 1.0783.”
“Meanwhile, a break below 1.0664 could drive the pair lower to 1.0559 levels.”
Key Quotes
“On the hourly charts, the RSI has confirmed a bullish divergence, which could see the pair rise to 1.0750 and 1.0783 (hourly 50-MA).”
“The daily RSI too, is deep into the oversold territory. Thus, a technical correction in the wake of risk aversion in the stock markets could be possible.”
“However, the immediate gains are likely to be capped around the 5-DMA 1.0783.”
“Meanwhile, a break below 1.0664 could drive the pair lower to 1.0559 levels.”