USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
Technical analysis for EUR/USD
2021-06-22 • Updated
EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920. Below 1.1845 support lies at 1.1820 (78.6% Fibo) and 1.1765 (88.6% Fibonacci, support line connecting 2020 and 2021 lows, 100-month MA).
The pattern on the h4 looks like an ‘Inverted Head and Shoulders’. A break above 1.1920 will open the way up to 1.1985. Alternatively, we need to see a decline below 1.1880 for selling with 1.1850 as a target.
The US Dollar Index bounced back at the first trading day of the week after a long weekend.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
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