Sat, Jan 28, 2023 @ 17:29 GMT
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EUR/USD Capped By Bearish Moving Averages

The US dollar continues to advance across the board supported by improving economic outlook.

After a short pause along the 20 and 30-hour moving averages, the sell-off renewed below 1.1760. A further drop below the psychological level of 1.1700 could drive the price towards. 1.1600, a critical support level for the ten-month-long rally on the daily chart.

As the RSI falls into the oversold area, a limited rebound could be met with selling pressure between the moving averages and 1.1775.

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