Technical analysis of EUR/USD 01/25/2023
The EUR/USD currency pair on (1D) as part of an upward correction entered the resistance zone of 1.0900 (50% Fibo), (the upper limit of the ascending channel).
If the pair manages to consolidate above the level of 1.0940, then technically this will mean the development of an upward correction with a target in the area of 1.1270 (61.8% Fibo).
Divergence on the RSI indicator indicates a possible change in trend and the beginning of a downward movement.
A signal to cancel the option to continue the upward correction will be a decrease in quotes below 1.0200 (MA100), (MA200), (lower limit of the ascending channel), which will indicate the price exiting the ascending channel.
Created by Joshua Hayn