EURUSD reaching for 161% extension

11 Haz

11 June:

Intraday Update: The EURUSD remains very heavy and bounces are shallow. A fresh trend low may test the 1.0710 level which is the 161% extension of the last upmove. Intraday RSI's will probably be divergent which may allow for shorts to cover (or fresh longs) ahead of tomorrow's CPI and FOMC.