EURUSD: 1D MA50 rejection, potential pullback to 1.07500

EURUSD has turned marginally bullish on the 1D timeframe (RSI = 55.444, MACD = -0.001, ADX = 39.548) but today made the second rejection on the 1D MA20 since February 22nd. Based on the 1D RSI uptrend that has started, the price action seems very much like the October 24th 2023 rejection, which pulled back near the 0.786 Fibonacci level. According to that, we expect a short-term correction at least for the pair (TP = 1.07500).


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