The ECB has been dovish which might further push EUR yields lower while technical charts have been showing strong selling into rallies.
The ECB has been dovish which might further push EUR yields lower while technical charts have been showing strong selling into rallies. This looks like a corrective rally again, where the EUR might be sold into rally within the POC zone. The POC, 1.0625-40 (trend line, 78.6, H4, previous triple top) could reject the price towards 1.0560. If the pair proceeds below 1.0560 without a retracement, that should be the sign of further continuation towards 1.0540 and 1.0500 as the confluence between L3, ascending trend line and ATR pivot will be broken.
EUR/USD Chart
Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets
