FXstreet.com (Barcelona) – Senior Analyst, Axel Rudolph at Commerzbank said the negative divergence seen between the daily RSI and the EUR/USD‘s current August high at 1.3453 points to a top being formed.
“Confirmation of this would be a drop through the steep two month support line at 1.3307 and a fall through Tuesday’s 1.3323 low”.
“Only a drop through the next lower 1.3208/1.3188 support area will mean that a significant top has indeed been made.”
“an unexpected rise above the 1.3427 Wednesday high be seen, though, his view will probably be incorrect”.
“In this case, Tuesday’s 1.3453 peak should …read more