Spotlight on EURUSD

Freepik

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 Forex pair had peaked at around $1.1070 and then dropped to around $1.0910 whereas currently it has corrected to the rate of $1.0985. Today, if it manages to hold it above the support level of around $1.0975, we could expect it to test its resistance level at around $1.10 and if it is able to break through it, then it should approach the next one at around $1.1070. On the other hand, a possible breakdown of the support level of $1.0975, could lead to a drop of the rate towards the next support level at around $1.0930. 

AAATrade Market Research Department

More By This Author:

Intraday Technical Analysis Of Bed Bath & Beyond Inc.
Technical Analysis Of EURUSD - Friday, April 21
Daily Technical Analysis Of GBPUSD – Thursday, April 20