Technical analysis of EUR/USD 04/01/2020
The EUR/USD currency pair formed an upward correction on the daily timeframe. The pair found resistance at 1.1150 (61.8% Fibo). At the moment, the price is consolidating in the area of MA100 and MA200 at the level of 1.10000.
If the price breaks (61.8% Fibo) and goes above 1.1150, the corrective movement will go into a trend with upside potential to the key peak at 1.1500. If the pair continues to move in the current downtrend on the daily chart, the immediate goal will be at least 1.0635 with the potential to reduce to a minimum of 1.0350.
Particularly relevant drivers today are fundamental data.
Created by Joshua Hayn