@mwright656 on EURUSD | PriceONN Community
EURUSD seems to be struggling around the 1.1820 level. I'm new to this, but is it common for the price to consolidate like this after a downward trend? I'm reading that the RSI is oversold, but I'm unsure if that's a reliable indicator on its own. Any thoughts on what might happen next?
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Update: I've noticed the 200 SMA is just above the current price. Does that mean it's likely to act as a resistance level if the price tries to go up?