Technical analysis of EUR/USD 06/04/2021

EUR/USD currency pair found resistance at 1.2260 and began a downward correction on the daily timeframe. Now quotes are in the area of the 1.2130 level (23.6% Fib).

If the pair manages to break through the support of 1.2130 (23.6% Fib), it will mean the development of a downward correction to the level of 1.2050 (38.2% Fib) and (MA100).

If the support level of 1.2130 holds and the quotes do not consolidate below the level (38.2% Fib), it will mean a continuation of the development of an upward trend with a target above the level of the annual high of 1.2345.

EURUSD_STPDaily

Created by Joshua Hayn

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