EURUSD Intraday Technical Forecast


EURUSD is looking for direction in the lower end of the recent range following Thursday’s strong pullback to the 1.2300 neighbourhood. What can we expect next for EURUSD? Have a look at today’s 13 April EURUSD Intraday Technical Forecast and gain more insights.

13 April, OctaFX – The euro has started recover upside momentum against the U.S dollar, after the single currency declined sharply lower, following the release of the ECB Meeting Minutes.

The EURUSD pair currently trades around the 1.2330 level, after finding strong dip-buying demand from the key 1.2300 support level on Thursday. Traders now look towards CPI inflation figures from the German economy, with the 1.2333 level the pivotal intraday level to watch.

13 April EURUSD Intraday Technical Forecast

  • The EURUSD pair is only bullish while trading above the 1.2333 level, key intraday resistance is currently located at the 1.2382 and 1.2396 levels.

  • If the EURUSD pair trades below 1.2333 level, sellers may start to target the 1.2300 and 1.2275 support levels.

Disclaimer

This article about 13 April EURUSD Intraday Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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