Bearish developments continue to impede our bullish long-term outlook for Euro. First, there is a broken hourly uptrend and a lower high. Second, the daily RSI indicator is struggling at the 60 level which is often reserved for down-trending markets. The Euro has held above key Fibonacci support at 1.3174 but it is critical that prices rally through 1.33 resistance to reaffirm the upside strength.
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Nomura