Technical analysis of EUR/USD 11/17/2021

The EUR / USD currency pair on the (1W) chart is at the lower border of the descending channel.

The pair found support and is trading around the 1.1300 level (61.8% Fib). If the pair manages to gain a foothold below this support, it will mean the transition of the downward correction to the downtrend with the target of 1.0640 (2020 minimum).

The technical picture suggests a rebound from this support to the nearest resistance at 1.1500.

EURUSD_STPWeekly

Created by Joshua Hayn

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