3 min readEURO VS DOLLAR (EUR/USD):
The Euro appeared to show some short-term strength against the Dollar, briefly trading above the 1.0600 level before resuming its downward movement shortly thereafter.
A closer examination of the technicals reveals that the price came remarkably close to the 50% Fibonacci level, which would have achieved an ideal price rebalancing. I will be monitoring closely to see if higher price rebounds are still possible before any further downward movement. The RSI indicator currently shows no signs of the price being either overbought or oversold.
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