Technical analysis of EUR/USD 10/20/2021

The EUR / USD currency pair is in an upward channel within the correction. The pair found resistance at 1.1670 (38.2% Fib). It is currently trading in the 1.1630 area.

If the pair manages to gain a foothold above 1.1670 (38.2% Fib), then the next resistance will be around 1.1700. (50% Fibo).

If quotes go below the support at 1.1570, this will mean a breakdown of the lower boundary of the upward channel (MA 100) and a signal to resume the downtrend with the nearest target at 1.1530 (annual minimum).

EURUSD_STPH4

Created by Joshua Hayn

 

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