A general review :
The EUR/USD pair followed a strong bearish channel below the price of 1.0969 for that this pair extends decline.
The Fiber started a major decline after it failed to clear 1.0969 against the US Dollar.
The EUR/USD pair traded below the 1.0969 resistance to enter a bearish zone. Euro currency down 5%.
Investors and traders are looking at the EUR/USD, because the pair extended set down below the resistance levels of 1.0969 and 1.1019. Conversely, US dollar price rallied against baskets of pairs.
RSI is seeing major resistance below 50% where a corresponding reaction could occur. So, the RSI is still calling for a strong bullish market as well as the current price is also above the moving average 100.
According to the previous events the price is expected to remain between 1.0969 and 1.0750 levels.
The descending movement is likely to begin from the level 1.0969 with 1.0806 and 1.0750 seen as targets.
Intraday technical levels
- Date : March 08, 2022
- Pair : EUR/USD
- Current High 1.1223
- Current Low 1.0806
- Range = 417 pips
Resistance 3 : 1.1139
Resistance 2 : 1.1070
Resistance 1 : 1.1019
Pivot Point : 1.0969
Support 1 : 1.0806
Support 2 : 1.0750
Support 3 : 1.0700
