Technical Analysis – EURUSD recoups some losses from 20-month low; broader outlook is bearish
Posted on January 31, 2022 at 8:24 am GMTEURUSD rebounded off the 20-month low of 1.1120 that it posted in the previous week after the aggressive downside move below the short-term ascending trend line. Technically, the 20- and 40-day simple moving averages (SMAs) are ready for a bearish cross in the short-term, and the MACD oscillator is extending its bearish structure below its trigger and zero lines. However, the RSI indicator is pointing upwards in the negative region. A successful move higher, may find immediate resistance at the 1.1185 barrier ahead [..]