Technical analysis of EUR/USD 09/29/2022

The EUR/USD currency pair is trading in a downtrend within the formed channel.

The price found support at 0.9535, after which it corrected and is currently consolidating around 0.9780.

The technical picture suggests continued growth within the correction.

Resistance Levels:

1. 0.9860 (38.2% Fibo)

2. 0.9950 (50% Fibo), (MA200)

3. 1.0050 (61.8 Fibo)

Cancellation of the development of an upward correction will be a decrease in quotes below the low of 0.9535, which will indicate a continuation of the downtrend.

EURUSD_STPH4

Created by Joshua Hayn

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