Technical analysis

EURUSD Wave Analysis 3 April 2024

– EURUSD reversed from key support level 1.0730

– Likely to rise to resistance level 1.0860

EURUSD currency pair recently reversed up from the key support level 1.0730, which has been reversing the pair from the start of December, standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from October

The upward reversal from the support level 1.0730 created the daily Japanese candlesticks reversal pattern Piercing Line.

Given the oversold daily Stochastic, EURUSD currency pair can be expected to rise further to the next resistance level 1.0860.

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