EUR/USD: Resistance at 1.0660/80, support at 1.0580 – OCBC

EUR/USD traded a touch firmer last week. Economists at OCBC Bank analyze the world’s most popular currency pair technical outlook.

RSI shows sign of rising

“Bearish momentum on daily chart intact but RSI shows sign of rising. Potential bullish divergence on MACD is not ruled out.”

“Resistance at 1.0660/80 (23.6% fibo, 21-Day Moving Average (DMA), 1.0730 (50-DMA) and 1.0780 levels.” 

“Support at 1.0580, 1.0520 and 1.0460 (38.2% fibo retracement of Sep low to Feb high).”

See: EUR/USD probably ends March in the 1.07/1.08 area – ING