EUR/USD records five-year-lows but trims some losses and hovers around 1.0560s By christianborjon EURUSD Majors Macroeconomics Technical Analysis
ps since the close, towards the fresh 5-year-low around 1.0514, recorded on Wednesday. At 1.0564, the EUR/USD recovered some ground, aiming to finish the day with losses for the fifth consecutive trading day.Investors’ mood improved since the mid-North American session. Probably on thefrom China, as Shanghai is about to ease lockdowns following a Covid-19 outbreak that hit the second largest Chinese city a couple of weeks ago.
like the Relative Strength Index , albeit at oversold conditions, seem poised to record lower readings. At the time of writing stands at 27.09.first support would be 1.0500. A breach of the latter would expose 1.0450, followed by 1.0400, and then a test of January’s 2017 cycle lows near 1.0340.
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