Daily Technical Analysis Of EURUSD - Monday, May 22

May 22, 2023 at 9:40 AM EDT

Looking at EURUSD’s chart, we can see that the FX pair has been in a downtrend, and it is currently traded at the rate of around $1.0822.

Bank Note, Euro, Bills, Paper Money

Image Source: Pixabay

Spotlight on EURUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

EURUSD

Looking at EURUSD’s chart, we can see that the FX pair has been in a downtrend, and it is currently traded at the rate of around $1.0822. Today, if it holds above the support level which is located at around $1.079-1.08, then we should expect it to rise towards its resistance level at around $1.0840-1.0850 and if it is able to pass it, then it could approach the next resistance level at around $1.0885.

(Click on image to enlarge)

AAATrade's Daily Technical Analysis of EURUSD - 22/05/2023

More By This Author:

Daily Technical Analysis Of EURUSD - Friday, May 19
Intraday Technical Analysis Of Applied Materials Inc. - Friday, May 19
Daily Technical Analysis Of GBPUSD – Thursday, May 18

Disclaimer:

We also offer CFD products. 70.91% of retail CFD accounts lose money. CFDs trading is risky and your entire capital might be at risk. Information presented herein, is not to be construed as a solicitation or an offer to buy or sell any Financial instrument or to participate in any trading strategy.

Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information.