EUR/USD – Bearish divergence on hourly chart
Hourly chart
Support
1.1049 (50% fib of Oct fall)
1.10 (5-DMA)
1.0950 (10-DMA)
Resistance
1.1095 (61.8% fib of Oct fall)
1.1127 (50-DMA)
1.1180 (200-DMA)
Comments – The bearish divergence on the hourly chart could yield a minor corrective move to 1.1049-1.1020, although the overall trend remains bullish as long as the currency pair is above 1.10 handle.
Support
1.1049 (50% fib of Oct fall)
1.10 (5-DMA)
1.0950 (10-DMA)
Resistance
1.1095 (61.8% fib of Oct fall)
1.1127 (50-DMA)
1.1180 (200-DMA)
Comments – The bearish divergence on the hourly chart could yield a minor corrective move to 1.1049-1.1020, although the overall trend remains bullish as long as the currency pair is above 1.10 handle.
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