• EURUSD reversed from resistance level 1.2250
• Likely to fall to support level 1.21600
EURUSD currency pair recently reversed down from the key resistance level 1.2250 (former multi-month high from the end of February).
The resistance zone near the resistance level 1.2250 was strengthened by the upper daily Bollinger Band.
Given the overbought daily Stochastic – EURUSD currency pair index can be expected to fall further toward the next support level 1.2160 (low of the previous correction (ii)).
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