EUR/USD needs to close above 200-DMA Euro Fx/U.S. Dollar FX:EURUSD TipTVFinance Retreat from 1.0906 (previous day’s high) followed by a consolidation around 1.0865 coupled...

EUR/USD needs to close above 200-DMA



Retreat from 1.0906 (previous day’s high) followed by a consolidation around 1.0865 coupled with the fact that the RSI is yet to hit the overbought territory suggests the bulls are taking a breather and would come in with fresh bids if the spot closes above the 200-DMA level today.
On the downside, area between 5-DMA and 10-DMA is likely to act as a strong support zone .

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