EUR/USD: Short-Term Trend Could Extend
2022.04.13 13:36
Looking at the EUR/USD chart, we can climb from the 1.088 level to the 1.093 on Apr. 7, but since it could not consolidate, it fell to the 1.0855 range on the Apr. 8. It attempted to reclaim the 1.093 the following day but failed again, returning to the 1.086 range.
It broke down from the 1.086 support level earlier today, falling lower into the 1.082, where it was last found trading. It had the closest temporary support level at 1.081 and 1.086, acting as the closest overhead resistance.
Today we can expect an extension of the short-term trend and a fall towards the 1.081 closest temporary support level, possibly near the 1.08 longer-term support level. If, however, it manages to consolidate at the current level, then a climb towards the 1.086 range can be expected.
EUR/USD price chart.
