EUR/USD: The Short-Term Trend Could Continue

2022.04.05 15:16

Looking at the EUR/USD chart, we can see the spike from the 1.10 to the 1.115 level on the 30th of March and reaching as high as 1.1175 on the 31st of March, but a retraction immediately followed, and the fall back down towards 1.110 and attempting to consolidate temporarily around the 1.105 range.

Earlier in today’s session, the downside continued leading to the fall in the 1.097 range where it was last found trading. Today we can expect an extension of the short-term trend and a fall below the 1.097 range, possibly below the 1.095 longer-term support level.

If however, it manages to consolidate then a move towards the 1.105 range can be expected.

EUR/USD price chart.

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