Daily Analysis EURUSD (04 Jan 2023)
The
pair lost value after PMI data from Germany. It recovered some of losses after
CPI data. CPI which fell below %10 stopped the decline of the pair a little. The
volatility may increase due to busy economic calendar today.
Technically, the pair meets the sellers after
breakdown the 21-DMA. 1.0520/25 level is crucial to hold price to not fall more.
It may move to 1.0710/35 region, if the 1.0520/25 support levels work. Also,
the daily RSI (14) indicator is declining from 60s.
Support:
1.0525 – 1.0520 – 1.0500
Resistance:
1.0580 – 1.0595 – 1.0600