Technical analysis

EURUSD Wave Analysis – 26 May, 2021

• 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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