EUR/USD Update – 26/09/2017 (12:00pm) – by Arjun Lakhanpal

EUR/USD Update – 26/09/2017 (12:00pm): EUR weakness still a theme. Risk-off moods fueled by escalating geopolitical tensions between the US and North Korea appear to have eased a bit, thereby triggering the demand for the higher-yielding assets such as the equities, Treasury yields etc.. In the 4 hours chart, the price is developing below all of its moving averages, with the 200 SMA converging with the mentioned trend line in the 1.1890 region, further reinforcing the level as resistance, whilst technical indicators maintain their sharp bearish slopes, entering oversold levels. Below the mentioned daily low, the next support comes at 1.1772.