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Moving average divergence characterising EUR/USD price action

The EUR/USD essentially went nowhere yesterday. Of course the price action was significantly curtailed by the US Presidents Day holiday, but even allowing for that, it was a lacklustre session for the Euro. The price action so far this morning has not yet changed either, with 1.0762 to 1.0781 covering it. At the same time, the 21 day moving average is still falling and has now crossed below the 100 day moving average. The 21 day is right now at 1.0797 and the 100 day is now at 1.0804 and it is actually still rising. So, as you can see, there is divergence in place on those now. It is also safe to say that both levels are still providing resistance for the time being as well. The EUR/USD is currently trading at 1.0771
 

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