Post ECB announcement, the EUR/USD was seen to show a price hike to levels above 1.19. However, it wasn’t for long before it moved back down to 1.1814 and in doing so, forming a daily candle with a long upper shadow which point towards a sell on the rise mentality.
As the 14 day RSI is also on a downtrend, there is room for more losses in the EUR/USD.
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