Technical Analysis Daily: EUR/USD

Daily Forex Technicals | Written by iFOREX.bg | Aug 21 08 05:45 GMT |

EUR/USD 1.4770

EUR/USD Open 1.4687 High 1.4798 Low 1.4675 Close 1.4737

The Euro descended significantly yesterday against the US Dollar from Wedneesday's bottom 1.4634 to the top 1.4798, after which started recovering, and the above are the the first resistance and support levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 1.4870, followed by 1.4930. In downward direction next support for today is expected at 1.4600, the break of which would lead to next target 1.4500.

Technical resistance levels: 1.4800 1.4870 1.4540
Technical support levels: 1.4675 1.4600 1.4540

Trading range: 1.4760 - 1.4820

Trend: Upward

Buy at 1.4770 SL 1.4740 TP 1.4810

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