FX.co ★ EUR/USD for December 20,2019 - Intraday oversold condition and bullish divergence on the MACD, possible rally till end of the day

EUR/USD has been trading downwards on intraday prospective and the price reached the level of 1.1083. Anyway, I found that sellers might be oversold for today and that there is potential for the rally till end of the day. Upside intraday targets are set at the price of 1.1100, 1.1107 and 1.1114.

Watch for intraday buying opportunities due to oversold condition...

MACD oscillator is showing bullish divergence, which is another sign of the exhaustion from sellers.

Resistance levels are seen at 1.1000, 1.1107 and 1.1114

Intraday support is seen at 1.1080

In case of the stronger down break, next support is seen at 1.1075