Technical analysis

EURUSD Wave Analysis – 2 August, 2022

EURUSD Wave Analysis – 2 August, 2022

• EURUSD reversed from resistance level 1.0260

• Likely to fall to support level 1.0100

EURUSD currency pair recently reversed down from the resistance level 1.0260 (which has been repeatedly reversing this currency pair from the middle of July).

The resistance zone near the resistance level 1.0260 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from June.

Given the strong daily downtrend, EURUSD currency pair can be expected to fall further in the next support level 1.0100 (low of wave (b) from last month).

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