Technical analysis of EUR/USD 04/29/2022

The EUR/USD currency pair is trading in a downward channel on the (1H) period. The price updated the low and found support at 1.0470. At the moment, the pair has corrected is trading around 1.0500.

The technical picture suggests continued decline within the channel with the nearest target around 1.0400 (2016 low).

The nearest resistance level is 1.0580 (23.6% Fibo).

EURUSD_STPH1

Created by Joshua Hayn

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