EUR/USD Technical Analysis: Euro showing signs of reversal to the upside

Denis Joeli Fatiaki Independent Analyst

The Euro against the US dollar is showing signs of recovery after bouncing at technical Fibonacci 261.8 retracement level at 1.15386 and is currently approaching 1.17760 in the four-hour price chart. We might see the Euro consolidate at this price level before making its next move. A break above 1.17760 could provide a clear path for its future short to medium term direction. The critical support and resistance for short to medium term are projected at the following price level. 1.15386, 1.16177, 1.17760, 1.18438, 1.19209, 1.19983

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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