EURUSD Intraday Technical Analysis


Key in majors this week will be the ECB meeting on Thursday: albeit no new staff projections are likely to be presented, we look for Mario Draghi to strike a somewhat softer tone on growth, which should weigh a bit on the euro. This 23 April EURUSD Intraday Technical Analysis shows how the pair trades at the moment.

23 April, OctaFX – The euro has moved sharply lower against the greenback during the European trading session, as the U.S dollar index climbs to its highest trading level since, March 1st.

The EURUSD pair currently trades around the 1.2230 level, with price-action continuing to edge lower towards the key 1.2214 support level. Moving into the U.S session, traders look towards U.S Manufacturing data and the key 91.00 level on the U.S dollar index.

23 April EURUSD Intraday Technical Analysis

  • The EURUSD pair is strongly bearish while trading below 1.2248 level, further losses towards the 1.2214 and 1.2175 levels seem likely.

  • Should price-action on the EURUSD pair move above the 1.2248 level, buyers may test the 1.2275 and 1.2300 resistance levels.

Disclaimer

This article about 23 April EURUSD Intraday Technical Analysis 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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