Technical analysis

EURUSD Wave Analysis 15 September 2023

– EURUSD reversed from support level 1.0645

– Likely to rise to resistance level 1.0750

EURUSD currency pair recently reversed up from the support level 1.0645 (former multi-month low from May) intersecting with the lower daily Bollinger Band.

The support level 1.0645 was strengthened by the 38.2% Fibonacci correction of the upward impulse from 2022.

Given the clear daily uptrend and the oversold daily Stochastic, EURUSD currency pair can be expected to rise further toward the next resistance level 1.0750.

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