@boldOak8 on EURUSD | PriceONN Community
B
Watching EURUSD closely right now. Price is hovering around the S1 pivot at 1.1515, and the RSI is sitting at a pretty bearish 35.8. The 200-day SMA is also above the current price, reinforcing that bearish sentiment from the daily chart. Given the recent news about the RBA being hawkish and the general strength of the dollar heading into the US jobs data, I'm leaning towards a continuation of this downside. If we break below 1.1500, I wouldn't be surprised to see a quick move towards the next support level, possibly around 1.1480. The question is whether the US jobs report will provide enough impetus for a significant move or if we'll just see more consolidation around these lower levels.