EURUSD has lost its recovery momentum after meeting resistance at 1.1330. Greenback continues to find demand as investors seek refuge. Investors await CB Consumer Confidence Index data from the US. Forecast forex FX Trading
EUR/USD's recovery attempt met resistance at 1.1330, where the 200-period SMA on the four-hour chart meets the descending trend line coming from mid-January. As long as it stays below that level, sellers are likely to continue to dominate the pair's action. The near-term bearish outlook is confirmed by the Relative Strength Index indicator, which fluctuates between 30 and 40.In case EUR/USD rises above 1.1330 and starts using it as support, it could extend its rebound to 1.1350 .
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