FXStreet (Córdoba) - The Brown Brothers Harriman team notes that the EUR/USD has established in a range last week, and a break above the 20-day SMA could spur a move to a descendant trendline off May and July highs.
“The euro has established a clear trading range here in the first half of August. It is a little over a cent wide: $1.3335-$1.3445”.
“The modest bullish divergence in the RSI, we noted last week, remains intact, and the RSI has moved higher. The MACDs are about to cross”.
“The euro has not traded above its 20-day moving average since July 15. It tested it (~$1.3412) before the weekend. A move through there could spur a move to the downtrend line drawn off the May and July highs. It comes in near $1.3440 at the end of next week”.