logo |

News

    Home   >     Industry    >     Main body

    EUR/USD Daily Forecast – Test Of Resistance At 1.1880

    Abstract:EUR/USD settled above 1.1850 and is testing the next resistance at 1.1880.

      EUR/USD Video 07.04.21.

      Euro Tries To Continue Its Rebound

      EUR/USD is currently trying to settle above the resistance at 1.1880 while the U.S. dollar is mostly flat against a broad basket of currencies.

      The U.S. Dollar Index continues to test the support at the 20 EMA at 92.35. If the U.S. Dollar Index manages to settle below this level, it will head towards the next support at 92.15 which will be bullish for EUR/USD.

      Yesterday, EU reported that Euro Area Unemployment Rate was 8.3% in February compared to analyst consensus of 8.1%. Today, foreign exchange market traders will focus on the final reading of Euro Area Services PMI report for March. Analysts expect that Services PMI increased from 45.7 in February to 48.8 in March. Numbers below 50 show contraction. The European services segment remains under pressure due to the third wave of the virus, and it remains to be seen when it will be able to return to growth.

      EUR/USD managed to settle above the resistance at 1.1850 and is trying to settle above the next resistance level at 1.1880. While the recent rebound was strong, RSI remains in the moderate territory and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

      In case EUR/USD settles above the resistance at 1.1880, it will head towards the next resistance level at 1.1900. A successful test of this level will open the way to the resistance which is located at the 50 EMA at 1.1925.

      If EUR/USD gets above the 50 EMA, it will head towards the resistance at 1.1965. A move above this level will push EUR/USD towards the resistance which is located at 1.1990.

      On the support side, the previous resistance level at 1.1850 will serve as the first support level for EUR/USD. If EUR/USD gets below this level, it will get to the test of the next support at the 20 EMA at 1.1840. In case EUR/USD declines below 1.1840, it will head towrds the support at 1.1800.

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.