EUR/USD: Eases above 1.2100, short-term rising wedge teases bears

EUR/USD struggles for clear direction while taking rounds to 1.2120-25 during Friday’s Asian session. The currency major pair rallied to the highest since late February the previous day before closing the daily books with a loss. Not only the failures to refresh the multi-day top but bearish MACD and rising wedge chart formation on the hourly play also back the EUR/USD seller’s entry. It should, however, be noted that the 1.2090 and the 200-HMA level of 1.2067 offer extra barriers, in addition to the rising wedge’s support near 1.2080, for the EUR/USD bears’ welcome. On the contrary, 1.2125 and the stated … (full story)

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