Technical analysis

EURUSD Wave Analysis 18 April 2024

– EURUSD reversed from resistance level 1.0685

– Likely to fall to support level 1.0600

EURUSD currency pair recently reversed down from the resistance level 1.0685, former multi-month support from February, acting as the support after it was broken.

The downward reversal from this resistance level 1.0685 continues the active minor impulse wave 3 of the higher impulse wave (3) from December.

Given the multi-month downtrend, EURUSD can be expected to fall further to the next round support level 1.0600.

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