The currency pair Euro Dollar EUR/USD continues to move within the correction and the bearish channel. At the moment, we should expect a test of the resistance level near the area of 1.1625, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.1380.
EUR/USD forecast & technical analysis June 22, 2018
In favor of falling quotations EUR/USD will test the bearish trend line on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro/Dollar price decline will result in a strong growth and breakdown at the level of 1.1680, which will indicate the breakdown of the upper border of the bearish channel and the continued growth of the Euro/Dollar above the level of 1.1840. To expect confirmation of the pair’s decline is with the breakdown of the support area and closing below the level of 1.1500.
EUR/USD forecast & technical analysis June 22, 2018 suggests an attempt to test the resistance area near the level of 1.1625, from which we should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1380, the cancellation of the EUR/USD fall will be a breakthrough at level 1.1680, which will indicate to continue the growth of the pair in the area above the level of 1.1840.
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