EURUSD is under the influence of Net Exports, Manufacturing PMI, M. Draghi press conference and the ECB meeting. It seems that EUR is getting stronger. The pair is finding support at 1.12810 with resistance at 1.13150 which both are above the monthly pivot point at 1.12030. The MACD indicator is in negative territory signaling the price fall and the RSI is below the 50 level confirming the decline as well. Short term traders can find this pair very lucrative since it is going to be really choppy for today. The support level breakthrough will be a good sign for the price fall targeting 1.1150, otherwise the bulls may appear and push the pair towards 1.1500 level.
Technical analysis of EURUSD dated 22.04.2016
Comments are closed.