Technical analysis of EUR/USD 11/12/2021

The EUR / USD currency pair on the (1W) chart is trading in a channel, developing a downward correction. The pair broke through the support of 1.1500 (50% Fib), (MA200) at the moment the quotes are in the area of 1.1440.

The technical picture suggests a continuation of the downward correction with a target below 1.1300 (61.8% Fib).

The nearest resistance is at the level of 1.1500.

EURUSD_STPWeekly

Created by Joshua Hayn

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