Finally, the EURUSD took a breather after having a consecutive 6 days bullish streak. At the moment, EURUSD is trading slightly bearish at 1.07600 down to completed 23.6% retracement. Besides that, the pair is holding above moving average support level of 1.0767 a daily pivot point of $1.07685 but the RSI has gone lower below 50, giving a bearish sentiment for the pair. EURUSD has not traded over 1.080 on a maintained premise since before the US presidential decision and with the viewpoint for close term monetary facilitating in the US blurring we have required the cross moving toward a base.In the exact close term, be that as it may, the move seems marginally exaggerated with respect to the harmonizing move in rates, situating and chance craving. Subsequently, we think better chances to reposition for an inevitable move towards 1.14 (our 12M estimate) are probably going to develop.

EUR
Current Account
German 10-y Bond Auction

USD
Existing Home Sales
HPI m/m
Crude Oil Inventories

Trading Range:
1.0850 – 1.0500

Support & Resistance Levels
R3: 1.0859
R2: 1.079
R1: 1.0747
Pivot Point: 1.0678
S1: 1.0609
S2: 1.0566
S3: 1.0497

Recommendation
Buy Below: 1.0785
Take Profit:
1st @ 1.0825
Stop Loss @ 1.0755

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