Approaching a strong support
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EUR/USD cross, although correcting, is approaching a pretty strong support level. It's 116 days the cross is not trading at such a level.
Even if the support at such a level should be quite strong, RSI on the 4h chart seems resetting quite fast and recovering from a overbought area towards 0.
If 1.194 level is cleared I would expect further retracement.
Even if the support at such a level should be quite strong, RSI on the 4h chart seems resetting quite fast and recovering from a overbought area towards 0.
If 1.194 level is cleared I would expect further retracement.
Nota
As uusual not a trading advice, merely my idea for educational purposes only
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