0215 GMT - The euro may undergo a minor corrective pullback against the dollar, based on the daily chart, Oanda's Kelvin Wong says in an email. The currency pair's three-month rally has reached an overbought condition as shown by its daily relative strength index, the senior market analyst says. Also, EUR/USD is coming close to a former major ascending trendline support from October 2023 which now turns into resistance at 1.0885-1.0940 area, the analyst says. Initial support would be the 200-day moving average which is at 1.0730, followed by key medium-term pivotal support at 1.0600, Wong adds. EUR/USD edges 0.1% higher to 1.0793. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 21:15 ET (02:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.