Technical Analysis for EURUSD for 22nd June 2023

Technical Analysis for EURUSD for 22nd June 2023

Euro Bulls Firm, Uptrend Resumes as Prices Float Above $1.0900

Past Performance of EURUSD

The euro rebounded strongly on June 21, reading from the candlestick arrangement in the daily chart. With the uptrend resuming, traders might buy on dips above $1.0900 or June 21 lows. The immediate target is at April 2023 highs.

EURUSD Technical Analysis

The recovery in June has been spectacular, cementing the bulls’ position. Currently, the euro is up 3.25% from May lows, aligning with buyers from March to April. Per the candlestick arrangement in the daily chart, traders can look to load on dips, syncing with gains of June 15 and expecting buyers to recover losses of May. Since the trend from the top-down preview is bullish, this preview will be valid if euro prices trend above $1.0900.

What to Expect from EURUSD

Euro bounced from a key Fibonacci level, and this trend could see prices break above April highs towards $1.1200 or better in the sessions ahead. As buyers press on, traders can track how prices react at $1.1000 and later $1.1100.


Resistance level to watch: $1.1100

Support level to watch: $1.0900


Disclaimer: Opinions expressed are not investment advice. Do your research.

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