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Crypto Technicals: ETH/EUR downside pauses shy of 200-DMA, bullish divergence on intraday charts keeps scope for upside

ETH/EUR chart - Trading View 

Exchange - Coinbase

Support: 162.39 (200-DMA); Resistance: 208.88 (110-EMA)

Technical Analysis: Bias Bearish

ETH/EUR pauses downside shy of 200-DMA, further weakness only on break below.

The pair is extending recovery for the 2nd straight session, bias still bearish.

110-EMA is strong resistance at 208.88. Turn in indicators with breakout above 110-EMA could see further upside.

The occurrence of a bullish divergence on RSI and Stochs on the 2H charts raises scope for upside.

Immediate resistance lies at 5-DMA. Decisive break above could see test of 110-EMA at 208. Further gains only on break above.

200-DMA is major support at 162.39. Break below will accentuate downside. 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

By Anupama Grandhi
  • Market Data
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