EURUSD Daily Analysis – April 16, 2018

EURUSD is facing 1.2300 support, a breakdown below this level would confirm that the short-term uptrend from 1.2214 had completed at 1.2396 already, then another fall towards 1.2150 could be seen. On the upside, as long as 1.2300 support holds, the fall from 1.2396 would possibly be consolidation for the uptrend and a breakout of 1.2396 resistance could take price to next resistance level at 1.2550.

EURUSD 4-hour chart