Technical analysis of EUR/USD 06/22/2022

The EUR/USD currency pair is in an upward correction on the (4H) chart. The price broke through the resistance 1.0570 (50% Fibo) and is currently consolidating around 1.0580 (MA100), (MA200).

The technical picture suggests continued growth towards the level of 1.0615 (61.8% Fibo). If the price manages to break through and consolidate above this area, this will be a signal to move from the correction to the uptrend with the nearest target at 1.0777.

A signal to cancel the continuation of the upward correction will be a decrease in quotes below the zone of lows of 1.0350, which will indicate the continuation and development of the downtrend.

EURUSD_STPH4

Created by Joshua Hayn

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