Technical analysis of EUR/USD 07/12/2022

The EUR/USD currency pair is in a downtrend. The price found support at the psychological level of 1.0000 and is currently consolidating around 1.0050.

The technical picture suggests an upward correction, in favor of which is the convergence on the RSI indicator.

Resistance Levels:

1. 1.0185 (23.6% Fibo)

2. 1.0300 (38.2% Fibo)

3. 1.0400 (50% Fibo), (MA100) for (4H) chart

4. 1.0480 (61.8% Fibo), (MA200) for (4H) chart

A signal to cancel the development of an upward correction will be a decrease in quotes below 1.0000, which will indicate the continuation and development of a downtrend.

EURUSD_STPH4

Created by Joshua Hayn

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