EUR/USD: Triple Negative Divergence; A Close Below 55d MA Key - Citi

CitiFX Technical Strategy Research notes that EUR/USD charts suggest a triple negative divergence which reflects a weakness in the uptrend at least in the short term.

"Trendline support or channel base is at 1.1754.

We would need to see a close below there and below the 55 day moving average (currently at 1.1704) before confirming any bearish break but the very near term risk is to see a pullback," Citi adds. 

Source: Citi Research