EUR/USD Technical Analysis: Corrective Upswing Hinted Ahead


The Euro continues to oscillate in a narrow range against the US Dollar having touched the lowest level in six months last week. Positive RSI divergence points at ebbing downside momentum and hints that a corrective recovery may be brewing ahead.A daily close above the 14.6% Fibonacci retracement at 1.0821 initially opens the door for a challenge of the 23.6% level at 1.0892. Alternatively, a push downward through range support marked by the 14.6% Fib expansion at 1.0711 clears the way for a test of the 23.6% threshold at 1.0637.