EURUSD Is Unyielding, Attempts to Consolidate the Rebound Towards 1.0900 Level

EURUSD Is Unyielding, Attempts to Consolidate the Rebound Towards 1.0900 Level

EURUSD Price Analysis – April 27

The single currency extends the bullish momentum into Monday’s session and boosts EURUSD to the 2-day high region about 1.0860 unyielding level in an attempt to stabilize the recovery to 1.0900 level. The leading countries in Europe also have confirmed substantial changes in COVID-19 figures.

Key Levels
Resistance Levels: 1.1495, 1.1146, 1.0990
Support Levels: 1.0721, 1.0635, 1.0569

EURUSD Long term Trend: Ranging

The pair is presently gaining 0.14 percent at level 1.0845 and a breakout of level 1.0860 (high) may attempt level 1.0990 (high Apr.15) heading back to level 1.1055. On the contrary, instant contention is at level 1.0768 (low) level followed by level 1.0635 (low) and ultimately, level 1.0569 (low).

But strong resistance persists at level 1.0900, which kept down the currency pair late last week and then by level 1.0930, a swing high from early in the month. lA strong support is also anticipating a level of 1.0812, a low-level last week, and then an early April downturn of 1.0768 level.

EURUSD Short term Trend: Ranging

Intraday bias in EURUSD appears initially neutral. On the contrary, a breach of 1.0900 level may probably expand the reversal trend from level 1.0635 with yet another upsurge to level 1.0990.

However short-term recovery of 1.1146 to 1.0635 at 1.1167 levels will be restricted by a 61.8 percent pullback. At the downside, a breach of 1.0721 level may aim at a low-level test of 1.0635.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.