EUR/USD on Wednesday made an intra‐day low of US$1.0973/EUR and made an intraday high of US$1.1092/EUR and settled the day up by 0.590% at US$1.1075/EUR on session close, noted the Option Banque’s technical analysis team.
Technicals in Focus:
On daily charts, prices are sustaining above100DMA (1.1049), which become immediate support level, break below will target 1.0950-1.0815. MACD is now above zero line and giving a buy signal. Stochastic is in oversold territory and giving negative crossovers to signal for bearish outlook for intraday.
Trading Strategy: Neutral to Sell
Based on the charts and explanations above; sell below 1.1080-1.1180 targeting 1.0950-1.0890 and 1.0815-1.0656 with stop-loss at hour closing above 1.1220 if the 1080-1180 area is breached. While Buy above 1.0910-1.0815 with risk below 1.0800 targeting 1.1080 and 1.1130-1.1235 if the 1.0910-1.0815 area is broken out.