EURUSD Daily Forecast Apr 06 2018

EURUSD: Under Pressure But Around Critical Support!

Forex-big 65985

EURUSD: Under Pressure But Around Critical Support!

As long as 1.2253 broken support turned resistance holds on a daily closing basis, the EURUSD remains on the downside to the 1.2185 levels, a halt is likely and it may turn higher from here, but if this fails to happen, the pair will see more weakness to the 1.2088 levels, further down, support comes at the 1.2030/1.1975 levels.

On the upside, resistance comes at the 1.2253 levels, a sustained breakout – daily closing – above that level will bring limited gains for testing 1.2335 levels(main) where rejection is likely, however; above 1.2335 will turn outlook neutral and pave the way to the 1.2400/1.2460 levels.

Conclusion: The EURUSD continues to face downside threats below 1.2335/1.2253 levels with caution!