Sat, Oct 23, 2021 @ 11:28 GMT
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EUR/USD Tests Major Support

The US dollar found support from better-than-expected durable goods orders.

The pair gave up all its gains from the rally in late August. This indicates an erosion in the bullish sentiment.

The euro’s latest rebound has been capped by 1.1750. Sellers are pushing towards the critical floor at 1.1665. And its breach would lead to the last line of defense at 1.1600 from November last year.

An oversold RSI may bring in some buying interest, though buyers will need to lift 1.1820 before they could hope for a bullish reversal.

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