Technical analysis

EURUSD Wave Analysis 27 September 2023

– EURUSD broke key support level 1.0530

– Likely to fall to support level 1.0420

EURUSD currency pair recently broke key support level 1.0530 (which has been reversing the price from January) intersecting with the 50% Fibonacci correction of the previous upward impulse from November.

The breakout of the support level 1.0530 was accelerated the active impulse waves iii and 3.

Given the strongly bullish USD sentiment, EURUSD currency pair can be expected to fall further toward the next support level 1.0420.

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