EUR/USD Forecast April 5-9 – Euro Dips For Third Straight Week

Technical lines from top to bottom:

1.2089 has been a strong resistance since the start of March.

1.1936 is next.

1.1846 switched to resistance in mid-March, when the euro began a sustained slide.

1.1709 (mentioned last week). is the first line of support.

1.1538 is a 50% Retracement From the 52 Week High/Low. It is the final support level for now.

I remain bearish on EUR/USD

The US economy continues to gather steam, with the sharp NFP reading on Friday being the latest piece of good news. The eurozone remains mired in Covid lockdowns and the vaccine rollout has been sluggish.

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