EUR/USD rejects mayor resistance level

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23 February 2021 | Updated: 23 February 2021

Key Resistance Level: 1.2180
Key Support Levels: 1.2150 – 1.21

Mid-Term View
The EUR/USD has rallied to a big level. Last time it tested and rejected it, price moved down 230 pips (-1.88%). It´s important to see the confluence here (key resistance + short term bullish structure test + short term bullish targets + DXY bouncing from the lows)

1H chart Analysis
Mild bearish divergence detected at the highs of the move with a strong USD today makes for a high probability sell in the EU.

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