Technical analysis

EURUSD Wave Analysis – 12 April 2023

• EURUSD under bullish pressure

• Likely to rise to resistance level 1.1035

EURUSD currency pair under the bullish pressure after the earlier breakout of the resistance level 1.0950 (former top of the previous impulse wave (1) from the end of March).

The breakout of the resistance level continues the active medium-term impulse wave (3) from the start of April.

Given the strong daily uptrend, EURUSD can then be expected to rise further toward the next resistance level 1.1035 (former multi-month high from February).

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