EURUSD Finds Support At Daily Moving Average

25 mai 2020

The above charts shows the EURUSD. The left chart shows the currency pair finding support at the black 20-day SMA, with the SMA moving up. The daily RSI is above 50 (green rectangle), which is the bullish side of the oscillator and we are monitoring to see if it crosses below the 50 level. The right chart shows the hourly EURUSD time frame. The green 5-hour EMA has crossed above the orange 10-hour EMA and the shorter-term RSI has moved to the bullish side of 50. These are positive developments and if the EMAs develop angle and separation the EURUSD will have upwards momentum behind it.